Mold-Tek Technologies declares 100% dividend, FIIs stake up in Q3
2 min read . Updated: 12 Apr 2023, 05:16 PM IST
Premium- Mold-Tek Technologies, a small-cap company, closed today with a market valuation of ₹769 Cr.
Mold-Tek Technologies, a small-cap company, closed today with a market valuation of ₹769 Cr. The company dominates the rigid plastic packaging production industry in India with a 25% market share. Mold-Tek Packaging Ltd produces injection-molded containers for food, paint, lubricants, and other products. The Board of Directors of the company during their meeting today declared 100% dividend for its eligible shareholders for which the record date has been fixed.
“This is to inform you that the Board of Directors (“Board") of the Company at its meeting held today i.e. 12th April, 2023, have, inter-alia, declared an Interim Equity Dividend for the Financial Year 2022-23 @ 100% i.e. ₹2.00/- per equity share on face value of ₹2.00/- per equity share. As intimated vide our letter dated 7th April, 2023, the record date for reckoning the list of equity shareholders who will be entitled to receive the said interim equity dividend shall be Friday, 21st April, 2023. The interim dividend will be paid to such shareholders on or before Thursday, 11th May, 2023," said the Board of Mold-Tek Technologies in a stock exchange filing today.
Mold-Tek Packaging has announced an equity dividend of 160.00% at a face value of ₹5, or ₹8 per share, for the fiscal year ended March 2022 or FY22. This generates a dividend yield of 0.86% at the current share price of ₹935. The company has a solid track record of dividend declarations during the past five years. Mold-Tek Packaging Ltd. has issued 26 dividends since September 17, 2009, according to data from Trendlyne.
The shares of Mold-Tek Packaging closed today on the NSE at ₹935 apiece level, down by 1.90% from the previous close of ₹953.10. The stock touched a 52-week-high of ₹1,110.00 on (03-Feb-2023) and a 52-week-low of ₹648.15 on (12-May-2022). During Q3FY23, the company recorded a promoter shareholding of 34.01%, FIIs stake of 14.51%, DIIs stake of 20.05% and a public stake of 31.43%.
According to Trendlyne data, promoters of Mold-Tek Packaging reduced their holdings from 34.11% in the September 2022 quarter to 34.01% in the December 2022 quarter, while FII/FPI raised their holdings from 13.94% during Q2FY23 to 14.51% in Q3FY23, mutual funds lessened their holdings from 17.73% to 17.57%, and institutional investors enhanced their holdings from 34.07% during Q2FY23 to 34.56% in Q3FY23.
Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said “MoldTek Technologies looks bearish on the Daily charts with strong resistance at 288. Investors should book profits at current levels as a fall till support of 225 looks likely."