Up 370% in five years, this multibagger stock turned ex-dividend today

Shares of multibagger Astral Ltd are in focus after the stock turned ex-dividend today. Astral announced an interim dividend of Rs 1.50 per share with a face value of Rs. 1 for the fiscal year 2023-2024.  The dividend was announced during the earning for the September 2023 quarter.  

Additionally, the company has started commercial production of adhesives division at Dahej plant, which will impact the stock movement in Friday’s trade.  

Astral stock opened higher at Rs 1802.45 today against the previous close of Rs 1782.55 on BSE. 

Market cap of the firm stood at Rs 48,632 crore. Total 2506 shares changed hands amounting to a turnover of Rs 45.34 lakh on BSE. Astral stock has gained 23.22% per cent in a year and risen 23.08 per cent in 2023. However, the stock has clocked multibagger returns, zooming 180% in three years and climbing 370% in five years.  

Astral stock has a one-year beta of 0.8, indicating low volatility during the period. 

In terms of technicals, the relative strength index (RSI) of Astral stood at 32.8, signaling it's trading in the neither in the overbought nor in the oversold zone.  

Astral shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.  

The board fixed October 27, 2023 as the record date for identifying the shareholders who were eligible to receive payment of the aforementioned interim dividend. The eligible shareholders will receive the interim dividend after October 27, 2023. 

The firm reported a 86% rise in the September quarter profit.  

The PVC pipes and plastic products maker logged a net profit of Rs 131 crore for the second quarter against a net profit of Rs 70.4 crore in the same period of the previous fiscal.  

Total revenue stood at Rs 1376.4 crore against Rs 1185.1 crore in the corresponding period of the preceding fiscal.  

Operating profit zoomed to Rs 220.1 crore in Q2 against Rs 144 crore in the September 2022 quarter.  Operating profit margin rose to 16.15 percent in Q2 compared to 12.29 percent in the corresponding period of the previous fiscal.   

Astral manufactures plumbing and drainage systems. The company offers plumbing pipes, fittings, insulation tubes, fire sprinklers, water tanks, cable protection, and drainage systems. Astral serves residential and industrial customers in India. 

 

Also read: Sensex jumps over 350 points, Nifty tops 18,950; Shriram Finance, Karnataka Bank gain up to 6%

 

Also read: PNB shares at Rs 80 or Rs 50? What analysts say on PSU bank stock post Q2 results