Ramkrishna Forgings is up 114% from 52-week-low, Board sets record date for interim dividend
3 min read . Updated: 11 Apr 2023, 04:08 PM IST
Premium- Ramkrishna Forgings is a small cap company that recorded a market cap of ₹4,997.35 today and the company deals in the capital goods sector.
Ramkrishna Forgings is a small cap company that recorded a market cap of ₹4,997.35 today and the company deals in the capital goods sector. The company provides Draw Gear Assembly, Side frame keys, Bolster suspension, Screw Coupling and Bolster suspension for railway coaches and waggons. Moreover, it is a favoured supplier to OEMs such as TATA Motors, Ashok Leyland, VE Commercial, and Daimler in India as well as to Volvo, Mack Trucks, Iveco, and Ford in international markets. It supplies Tier 1 axle producers including Dana, Sisamex, Meritor, and American Axles on a global scale. The firm also provides goods and services to a number of industries, including those in India and other countries, including the automotive, railway, farm equipment, bearings, oil & gas, power, and construction, earth moving, and mining.
“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Record date for the purpose of payment of Interim Dividend, if approved by the Board of Directors, shall be Tuesday, 9 May, 2023. Further, pursuant to our earlier letter dated 31 March, 2023 and in compliance with the provisions of the SEBI (Prohibition of Insider Trading) Regulation, 2015 and in terms of the Company’s Code on Prohibition of Insider Trading, the Trading Window for dealing in securities of the Company by Designated Persons and their immediate relatives is already closed from 1st April, 2023 till 48 hours after the announcement of the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended 31 March, 2023 to the Stock Exchanges where the shares of the Company are listed," said the Board of Ramkrishna Forgings in a stock exchange filing.
“Please be informed that pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 28 April, 2023, inter-alia to: a) Consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended 31 March, 2023. b) Consider and approve the payment of Interim Dividend, if any, for the Financial Year 2022-23," further informed the Board of Ramkrishna Forgings to the stock exchanges.
Ramkrishna Forgings has announced an equity dividend of 25.00% at a face value of ₹2, or ₹0.5 per share, for the fiscal year ended March 2022. This generates a dividend yield at the current share price of ₹312.45 of 0.64%. The company has a solid track record of dividend declarations during the past five years. According to statistics from Trendlyne, Ramkrishna Forgings Ltd. has declared 20 dividends since September 8, 2005. Ramkrishna Forgings Ltd. announced an equity dividend in the amount of ₹1.70 per share in the last 12 months. This generates a dividend yield at the current share price of ₹312.45 of 0.54%.
The shares of Ramkrishna Forgings after hitting a fresh 52-week-high a day before on Monday, closed today on the BSE at ₹312.45 apiece level, up by 1.63% from the previous close of ₹307.45. The stock recorded a total traded volume of 76,959 shares and a deliverable volume of 24.47% or 18,832 shares. The stock touched a 52-week-low of ₹145.50 on (21/06/2022), indicating that after touching a new 52-week-high level yesterday 10th April, the stock was seen trading at 114% above today from the 1-year low level at the current market price.