Bharat Forge Announces July 7 as Dividend and Shares Payment Record Date
Bharat Forge, a leading manufacturing company, has officially declared July 7, 2023, as the record date for the final dividend of the fiscal year 2022-2023. During this date, the board of directors will identify the eligible shareholders entitled to receive the dividend. Shareholders whose names appear on the list at the end of the record date will qualify for the dividend payment. The actual payment of the dividend, subject to approval at the company’s 62nd Annual General Meeting scheduled for August 10, will be disbursed on or after August 18.
As a reminder, Bharat Forge’s board had proposed a final dividend of Rs 5.50 per equity share with a face value of Rs 2 each, representing a dividend rate of 275 percent. This recommendation was made on May 5, 2023.
Market analysts have observed that the demand for Bharat Forge’s commercial vehicle portfolio, which contributes 41 percent to standalone sales, has shown signs of moderation. Although production levels and order backlogs remain stable, there are potential risks impacting the commercial vehicle sector. Considering the lukewarm outlook for commercial vehicles and the emerging macro challenges in key markets, analysts foresee limited upward potential for the company’s stock.
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As of 12:45 pm, Bharat Forge’s stock was trading at Rs 826.40 on the Bombay Stock Exchange (BSE), experiencing a 0.39 percent decline. Analysts have set an average target price of Rs 878, indicating a potential upside of 6 percent.
About Bharat Forge:
Bharat Forge Limited is an Indian multinational corporation that operates in various industries, including forging, automotive, energy, construction and mining, railways, marine, aerospace, and defense.
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