Ramkrishna Forgings is up 114% from 52-week-low, Board sets record date for interim dividend

Ramkrishna Forgings up 114%

The capital goods industry is where Ramkrishna Forgings, a small cap business with a market cap of $4,997.35, operates. For railway coaches and waggons, the company offers Draw Gear Assembly, Side frame keys, Bolster suspension, Screw Coupling, and Bolster suspension. It is also a preferred supplier to OEMs including TATA Motors, Ashok Leyland, VE Commercial, and Daimler in India as well as to Volvo, Mack Trucks, Iveco, and Ford in global markets. It provides Tier 1 axle manufacturers worldwide, such as Dana, Sisamex, Meritor, and American Axles. The company also serves a variety of industries, including those in India and other nations, such as the automobile, railway, farm equipment, bearings, oil & gas, electricity, and construction, earth moving, and mining industries.

According to Regulation 42 of the SEBI (Listing Obligations and Disclosure Standards) Regulations, 2015, we are providing you with the following information: “Tuesday, May 9, 2023, shall be the Record Date for the Purpose of Payment of Interim Dividend, if Approved by the Board of Directors. Additionally, in accordance with our earlier letter dated March 31, 2023, the SEBI (Prohibition of Insider Trading) Regulation, 2015, and the Company’s Code on Prohibition of Insider Trading, the Trading Window for Designated Persons and their Immediate Relatives to Deal in Securities of the Company is already closed from April 1, 2023 until 48 hours after the announcement of the Audited Standalone and Consolidated Financial Results.

Please be advised that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 28 April 2023. The meeting will be held in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, among other things 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,

For the fiscal year that concluded in March 2022, Ramkrishna Forgings has declared an equity dividend of 25.00% with a face value of 2 or 0.5 per share. At the current share price of $312.45, this generates a dividend yield of 0.64%. Throughout the last five years, the company has a strong track record of declaring dividends. Ramkrishna Forgings Ltd. has issued 20 dividends since September 8, 2005, according to Trendlyne records. In the previous 12 months, Ramkrishna Forgings Ltd. declared an equity dividend of 1.70 rupees per share. At the current share price of $312.45, this generates a dividend yield of 0.54%.

After reaching a new 52-week high the previous day on Monday, Ramkrishna Forgings’ shares finished today at a price of 312.45 a share on the BSE, up 1.63% from the previous close of 307.45. The stock saw 76,959 shares traded in total, and 18,832 shares, or 24.47% of that volume, were delivered. On June 21, 2022, the stock reached a 52-week low of 145.50, meaning that, although reaching a new 52-week high level on April 10, the stock was still trading 114% above its 1-year low at the time.