Shares of multibagger Triveni Turbine Ltd turned ex-dividend for a final dividend of Rs 1.30 today. The debt-free stock (Debt to equity ratio is zero) has delivered over 403% returns to investors in the last three years. The stock has gained 243% in two years and risen 91.21% in a year. In comparison, Sensex has risen 41.03% in three years.
Triveni Turbine stock was trading over a per cent lower at Rs 746.85 in the current session. The debt-free stock opened higher at Rs 761on BSE today. Total 3681 lakh shares of the firm changed hands amounting to a turnover of Rs 27.77 lakh. Market cap of the firm stood at Rs 23,877 crore. The stock hit a 52-week low of Rs 311.85 on October 26, 2023 and a 52-week high of Rs 842.55 on August 14, 2024.
Triveni Turbine shares have a beta of 0.6, indicating very low volatility in a year
In terms of technicals, the relative strength index (RSI) of the stock stands at 60.3, signaling it's trading neither in the overbought and nor in the oversold zone. Triveni Turbine shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Seven promoters held 55.84 per cent stake in the firm and 1,07,617 public shareholders owned 44.16 per cent or 14.03 crore shares for the quarter ended June 2024. Of these, 103912 resident individuals held 1.16 crore shares or 3.65% stake with capital up to Rs 2 lakh.
The company’s board declared an interim dividend of Rs 1.30 per fully paid-up equity share of face value of Re 1 each. It also announced a special dividend of Re 1 per fully paid-up equity share of the face value of Re 1 each for 2023-24, the company said.
About the company
Triveni Turbine Limited is an industrial steam turbine manufacturer. The company is primarily engaged in the business of manufacturing and supplying power generating equipment and solutions and has manufacturing facilities in Bengaluru, Karnataka. Approximately 6,000 steam turbines supplied by the company are installed across 20 industries in over 75 countries, including Europe, Africa, Central and Latin America, Southeast Asian and South Asian Association for Regional Cooperation countries.