Mid cap defence public sector undertaking (PSU) Bharat Dynamics today fixed May 24, 2024 as the record date for 1:2 stock split/sub-division of share. Current market price of Bharat Dynamics Ltd share on BSE is Rs 1996.85 apiece with intraday decline of 1.08%. Bharat Dynamics share offered attractive returns of 107% in last 6-months and a massive 604% in last 5-years. Earlier on March 21, 2024, the PSU approved stock split in the proportion of 1:2.
The aerospace & defence sector company has a market capitalisation of Rs 36,593.93 crore. Life Insurance Corporation Of India (LIC) has 1.43% stake in Bharat Dynamics with 2,626,403 shares. Motilal Oswal has recommended buy call with target price of Rs 2150 for next 2-3 weeks. More details below:
Bharat Dynamics shares Sets Record Date For Sub-Division of Shares: As per the regulatory filing of the company dated April 29, 2024, “we wish to inform you that, the Company has fixed Friday 24 May, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.”
Bharat Dynamics Dividend In 2024: The PSU declared an interim dividend of Rs. 8.85 per equity share of Rs. 10 each fully paid-up for the financial year 2023-24. It set 2 April 2024 as “Record Date” for the purpose of payment of Interim Dividend on equity shares for the Financial Year 2023-24 and the payment of Interim Dividend will be completed on and before 18 April 2024.”
Bharat Dynamics Dividend History: Bharat Dynamics announced 12 dividends since September 18, 2018. In the past 12 months, Bharat Dynamics announced an equity dividend amounting to Rs 10.05 per share. At the current share price of Rs 1996.3500, Bharat Dynamics offers a dividend yield of 0.50%.
Should You Buy Bharat Dynamics? According to Motilal Oswal Financial Services Ltd, “price volume surge in Bharat Dynamics stock and a consolidation breakout after 17 weeks indicates that there has been a good base formation in this stock. Traders can buy for a target of Rs 2150 in the next 2-3 weeks.”
Bharat Dynamics Shares Performance & Return: The 52-week high price of Bharat Dynamics shares on BSE is Rs 2097.70 (achieved as on 25/04/2024) and 52-week low price is Rs 901.00 apiece (as on 25/10/2023), respectively. Bharat Dynamics shares soared 14% in last 2-weeks, jumped 107% in last 6-months, gained 99% in last 1-year, and offered attractive rally of 167% in last 2-years. In last 3-years, Bharat Dynamics jumped 485%. Bharat Dynamics has a PE of 76.70, ROE of 14.13, and EPS (TTM) of 26.01, as per BSE data.
Bharat Dynamics Technical: Score is 73.43 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 69.7, RSI below 30 is considered oversold and above 70 overbought. MFI is 80.7, MFI above 80 is considered strongly overbought. This implies that stock may show pullback. Number of FII/FPI investors decreased from 123 to 122 in Mar 2024 quarter, according to Trendlyne.
Bharat Dynamics Ltd About: Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July, 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces. Since its inception, BDL has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for manufacture and supply of various missiles and allied equipment to Indian Armed Forces.
