Schaeffler India has declared a massive dividend of 1200% and if you buy the shares before the ex dividend date of April 11, 2023, you can receive this dividend.The board of directors of Schaeffler India met on Feb 16, 2023 to announce the dividend on the shares.The company’s shares last closed at Rs 2790.35 on the BSE.For the quarter ending Dec 31, 2022, the company saw strong performance for the year aided by broad based growth across businesses and accelerated growth in exports.Schaeffler India saw margins supported by increased volumes, sales mix and sustained countermeasures.
The company would continue to focus on consistent capital deployment remains, strong cash generation and robust balance sheet, an investor presentation of the company stated.The shares of the company hit a 52-week high of Rs 3,968.75 and 52-week low of Rs 1,744.80.
Markets arrest losses
Meanwhile, domestic equities arrested its five days losing streak after the Swiss National Bank agreed to provide financial aid to Credit Suisse Group.Nifty opened positive but witnessed rollercoaster ride throughout the session to finally end with marginal gains of 13 points at 16986 levels.Fresh concern over Credit Suisse failure has aggravated fears with regards how deep-rooted the banking crisis can get going ahead.”Its ripple effect is seen across global markets including India.
Nifty is down 4% over last six trading sessions.
We expect weakness to continue in the near term ahead of ECB meeting outcome today and Fed outcome next weekThe commentary over the ongoing turmoil in the financial sector would be crucial for the markets.We expect Oil marketing companies, cement and paints stocks to remain in lime light on account of fall in Brent crude price to 15-month low at $73/bbl,” Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services Ltd.
Disclaimer This article is for information purposes only and highlights a stock hat declared a good set of dividends.The article should be treated as informational and not an advisory to invest.Neither the author, nor Greynium Information Technologies Pvt Ltd should be held responsible for decisions based on this article.