Multibagger stock fixes record date for dividend: Do you own it?

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With a market valuation of Rs. 962.09 crore, Agarwal Industrial Corporation Ltd. (AICL) is a small-cap corporation that operates in the petrochemical industry. The firm, which has five huge main vessels with a combined capacity of 29,500 MT and more than 350 bitumen tankers, is the leading participant in the bitumen market in India. In order to supply bulk LPG across India, AICL now has more than 300 LPG tankers in addition to authorised Ashok Leyland workshop and maintenance facilities. Viscosity grade bitumen, industry grade bitumen, modified bitumen (CRMB/PMB), BituCoat, Bituplast, Bitupremier, bitumen emulsions, bitumen paints, and bitumen emulsion materials are among the bituminous products offered by the firm.

For the purpose of dividend, the company has said today in a regulatory filing that “In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the details of period of book closure as follows: The period of book closure shall commence from September 24, 2022 to September 30, 2022 (both days inclusive) for the purposes of payment of dividend @ 2 per equity share of the face value of 10 for the F.Y. 2021-22, if declared by the members of the company in the ensuing Annual General Meeting (AGM) and for the purposes of e-Voting at the 28th AGM to be held on September 30, 2022. Cut-off date for both being September 23, 2022.”

Today’s closing price for Agarwal Industrial Corporation Ltd shares was Rs. 663.50 per share, up 4.56% from the previous close of Rs. 634.55. The stock had a total transaction volume of 128,584 shares today, which translated into a traded value of 852.05 lacs. The stock has gained 9.94% during the past five years, and in the past year, it has generated a multibagger return of 108.19%. The stock has climbed by 64.56% year to date (YTD) so far in 2022 and by 38.95% over the last six months. The stock has appreciated 19.09% over the past month and 8.02% over the past five trading sessions. On the NSE, the stock had touched a 52-week-high of 730.95 on (28-April-2022) and a 52-week-low of 282.10 on (21-September-2021) indicating that at the current market price the stock is trading 9.22% below the high and 135.20% above the low.

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