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Vaibha Global Limited, which has shareholding of two ace investors — Vijay Kedia and Ashish Kacholia — has announced third interim dividend of ₹1.5 for the financial year 2021-22. According to stock market experts, the stock is ready for a bounce back after trading in retracement zone for long. The stock is near its 52-week low of ₹452.35 on NSE and in next one month it may go up to ₹600 apiece levels. Company's payout ratio is also modest and hence this interim dividend can become a major upside trigger for the scrip, they said.
Speaking on 3rd interim dividend announced by this Vijay Kedia and Ashish Kacholia stock holding company; Sumeet Bagadia, Executive Director at Choice Broking said, "Vaibhav Global's payout ratio is modest 37 per cent that augurs well for the long-term shareholders of the company. However, the stock is in weak zone for long and it may go down a little more. One should buy Vaibhav Global shares in ₹425 to ₹440 range." He said that stock has strong hurdle at ₹535 and it may become highly bullish after breaching this hurdle.
Echoing with Sumeet Bagadia's views; Anuj Gupta, Vice President at IIFL Securities said, "After making a high of ₹1050 per share levels in October 2021, Vaibhav Global shares are now trading at around ₹467 levels. Now it is at retracement zone, where we are expecting bounce back from current levels. Short term traders may buy Vaibhav Global around ₹440 ₹450 levels with stop loss of ₹378 and for the target of ₹580 to ₹600 levels in next one month."
Vaibhav Global interim dividend
In its latest communication with BSE, Vaibhav Global informed about third interim dividend citing, "Pursuant to Regulation 30 and other applicable regulations of SEBI (LODR) Regulations, 2015, this is to inform you that the Board of Directors at its meeting held on Thursday, 27th January, 2022 has inter alia considered and approved .... 3rd Interim Dividend of Rs. 1.50/‐ per Equity Share (on the face value of Rs. 2/‐ per Equity Share) for the financial year 2021‐22."
The Record Date for determining the entitlement of the shareholders for the payment of aforesaid interim dividend shall be Saturday, 5th February, 2022 and Interim dividend shall be paid / dispatched to the equity shareholders of the Company within 30 days from the date of declaration.
Vaibhav Global shareholding pattern
According to Vaibhav Global shareholding pattern for October to December 2021 quarter, Vijay Kedia holds 30.35 lakh company shares or 1.85 per cent stake whereas Ashih Kacholia holds 20 lakh company shares or 1.22 per cent stake in the company.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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