IT services stock with Rs 225 dividend turns ex-dividend today

Shares of Oracle Financial Services Software Ltd are trading ex-dividend today with a whopping interim dividend of Rs 225 per share. Ahead of the record and the ex-dividend date, the IT services stock hit a fresh 52-week high in the previous session. The stock zoomed to Rs 3,725, a fresh high on May 8, rising 1.58% against the close of Rs 3667.20 on May 5. However, in the current trading session, Oracle Financial Services Software stock was in a correction mode. The stock fell to Rs 3450 against the previous close of Rs 3482.60 on BSE.

The stock opened lower at Rs 3,461 on BSE today. Oracle Financial Services stock has lost 2.18% in one year and gained 15.41% since the beginning of this year. The share has climbed 7.25% in a month. Total 3,802 shares of the firm changed hands amounting to a turnover of Rs 1.32 crore on BSE. Market cap of the firm stood at Rs 30,054 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 83.3, signaling it's strongly overbought. Oracle Financial Services shares have a beta of 0.9, indicating low volatility in a year. Oracle Financial Services shares are trading higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The Mumbai-based firm announced an interim dividend of Rs 225 per equity share of face value of Rs 5 each for the financial year 2022-23. The provider of IT solutions to the financial services industry fixed May 9 as the record date. "Fixed Tuesday, May 9, 2023 as the Record Date for the purpose of said Interim Dividend," said the company's regulatory filing.

The firm reported a 1.46% rise in sales to Rs 1470.52 crore in the March 2023 quarter against Rs 1449.30 crore in the March 2022 quarter. Net profit zoomed 9.60% to Rs 479.30 crore in Q4 against Rs 437.33 crore in the March 2022 quarter. EBITDA rose to Rs 650.86 crore in Q4 against Rs 606.22 crore in the March quarter of 2022.

On an annual basis, net profit fell 4.38% to Rs 1806.14 crore for the fiscal ended March 2023 against Rs 1888.83 crore for the fiscal ended March 2022. For the fiscal ended 2021, net profit stood at Rs 1761.86 crore.

However, sales climbed 9.13% to Rs 5698.31 crore in the March 2023 fiscal against Rs 5221.46 crore for the fiscal ended March 2022. For the fiscal ended 2021, sales stood at Rs 4983.98 crore.

Oracle Financial Services Software Limited is engaged in the business of providing information technology solutions and business processing services to the financial services industry. Its segments include product licenses and related activities (Products), IT solutions and consulting services (Services) and Business Processing Outsourcing services (BPO-Services).

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