This multibagger stock shall pay ₹10 per share dividend soon: Do you own it?
Premium- Gujarat Narmada Valley Fertilizers & Chemicals Ltd., a mid-cap company with a market capitalization of Rs. 11,675.06 Crore, is a player in the chemical industry
Gujarat Narmada Valley Fertilizers & Chemicals Ltd., a mid-cap company with a market capitalization of Rs. 11,675.06 Crore, is a player in the chemical industry. The Gujarat State Fertilizers & Chemicals Ltd. and the Gujarat Government of Gujarat jointly endorse the Gujarat Narmada Valley Fertilizers & Chemicals Limited. The company has diversified its business portfolio across chemicals, fertilizers, IT, QC laboratory services, Tissue Culture & Soil/Water Analysis Activity and GNFC neem project.
The company has said in a regulatory filing that “The Board of Directors has in the said Meeting recommended a Dividend of Rs.10/- per equity share of ₹10/- each Fully Paid Up (@100%) for the Financial Year ended 31st March 2022, subject to approval of Shareholders at the ensuing Annual General Meeting. Upon approval by the Shareholders, the dividend declared will be paid within 30 days of declaration and the date of payment of dividend will be intimated in due course. The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of tax at source."
The Board of Directors has further said that “The Register of Members and the Share Transfer Books of the Company shall remain closed from Wednesday, the 21st September, 2022 to Tuesday, the 27th September, 2022 (both days inclusive) for the purpose of ascertaining the entitlement for payment of dividend. The dividend, if approved by the Members at the aforesaid AGM, shall be paid on or after 3rd October, 2022 to those members whose names appear on the Register of Members of the Company on the Book Closure Date."
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. shares ended trading on the NSE on Friday at Rs. 753 apiece, or a loss of 0.39% from the previous close of Rs. 755.95. From ₹18.70 on January 1st, 1999, to the present market price, the stock price has soared dramatically, logging a multibagger return and an all-time high of 3,926.74%. The stock has produced a multibagger return of 135.35% over the past five years and a multibagger return of 300.05% during the past three years. The stock has produced a multibagger return of 123.31% during the past year, and YTD, it has gained 69.35% so far in 2022.
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