Rs 40/Share Dividend: Small Cap Under Rs 100 To Hit Ex-Date In 4-Days, Gains 74.21% In 1-Week

Small cap company operating in Hospitals & Allied Services sector Fortis Malar Hospitals Limited shares have been witnessing tremendous rally since the last 1-week. Fortis Malar Hospitals shares soared nearly 74.21% in last 1-week only and already delivered multibagger returns of 102.37% in last 1-month. Last trading price of Fortis Malar Hospitals share on BSE is Rs 98.13. Fortis Malar Hospitals Ltd shares hit 2nd consecutive 10% upper circuit today. It is worth noting, this is the highest dividend the company announced till date. Earlier, Fortis Malar Hospitals declared Re 0.50 per share dividend each in 2015 and 2013. The hospital stock declared 3 dividends so far since 2013 with Rs 40/share dividend being highest in its entire history. Check details below:

Fortis Malar Hospitals Declares Massive Dividend In History: As per the regulatory filing of Fortis Malar dated April 12, 2024, "Board of Directors of Fortis Malar Hospitals Limited ("the Company") at their adjourned meeting held today inter-alia considered and approved declaration of Interim Dividend of Rs. 40/- (Rupees Forty only) per equity share of Rs. 10/- each on the entire issued, subscribed and paid-up share capital of the Company of 1,87,41,759 equity shares of the nominal value of Rs. 10/- (Rupees ten only) each."

How To Be Eligible For Fortis Malar Dividend? Record date plays a key role in fixing the eligibility of shareholders for the dividend. Traders whose name reflect in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. In the case of Fortis Malar Hospitals, the record date is April 23, 2024.

Fortis Malar Hospitals Share Performance & Return: The 52-week high price of Fortis Malar Hospitals share on BSE is Rs 98.13 per share (as on 19/04/2024) and 52-week low price is Rs 44.00 per share (as on 28/03/2024), respectively. Fortis Malar Hospitals shares jumped 102% in last 1-month only, gained 99.25% in last 1-year, soared 63% in last 3-years, and offered return of 261% in last 10-years.

Fortis Malar Hospitals Technical: The score is 63.62 indicating stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI is 88.9, RSI above 80 is considered strongly overbought. This implies that stock may show pullback. MACD is above its center and signal Line, this is a bullish indicator. Mutual Funds holding remains unchanged at 0.07% in Mar 2024 quarter Number of MF schemes remains unchanged at 1 in Mar 2024 quarter. Institutional Investors holding remains unchanged at 0.07% in Mar 2024 quarter, according to Trendlyne.

Earlier in November 2023, In November, Fortis Healthcare said it inked definitive agreements to sell Fortis Malar Hospital in Chennai, to MGM Healthcare Private Limited for about Rs 128 crore.

Disclaimer:

The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.