Rs 55 Dividend Highest In 6 Years, Record Date - November 27; Is The Stock Promising For Gains?

Ingersoll-Rand (India), a BSE-500 listed midcap stock, surged by as much as 6.1% on Monday, November 25, 2024, ahead of its big dividend rewards. The company is going to deliver a massive Rs 55 per share divided, the highest in six years. Currently, the stock price is a little over Rs 4,650 level, and has a strong return on equity (RoE) of 37.72%.

Ingersoll-Rand (India):

With its dividend ex-date around the corner, Ingersoll-Rand recorded a massive buying trend on Monday. After gaining by 6.16% with an intraday high of Rs 4684.75 apiece, the stock ended at Rs 4655.10 apiece, up by Rs 242.55 or 5.50% on BSE. The company's market cap is around Rs 14,695.22 crore.

The stock's 52-week high and low is at Rs 4,998.35 apiece and Rs 2,882 apiece respectively. Its price-to-equity ratio is at 60.94x.

Ingersoll-Rand (India) Dividend:

The company has revised its record date for its upcoming dividend reward to Wednesday, November 27, 2024. The interim dividend to be rewarded is to the tune of Rs per share for the current fiscal year.

This will be the second dividend payment by Ingersoll in 2024, but the first dividend of FY25. Earlier, the company paid a final dividend of Rs 20 per share for FY24, whose ex-date was on July 9, 2024. The interim dividend for FY24 was Rs 50 per share, the second highest reward in six years by the company and its ex-date was in November last year.

Prior to this, Ingersoll had a record of paying up to a total of Rs 50 dividend per share for FY23. The highest dividend payout by Ingersoll is of Rs 202 per share which was an interim and ex-date was on May 24, 2018.

Should You Buy?

As per MarketsMojo's latest update, the stock has consistently shown growth, trading higher than its moving averages. The overall sector has also seen a positive trend, making Ingersoll-Rand (India) Ltd a promising investment opportunity. It has given a buy call on the stock.

Ingersoll-Rand (India) Ltd. is an Indian company engaged in the business of manufacturing and selling industrial air compressors of different capacities. It was incorporated in 1921, with its headquarters in Kolkata.