Bharat Dynamics shares surge on 149% jump in net profit; board recommends dividend
The Board of Directors of the company have recommended a final dividend at Rs 2.55 per share (face value of Rs 10 each) for the year ended March 31, 2020.
June 30, 2020 / 10:25 AM IST
Bharat Dynamics share price jumped over 12 percent intraday on June 30 after the company reported surge in net profit in its March quarter numbers.
The company reported a 149.51 percent surge in net profit to Rs 309.72 crore in Q4 FY20 over Q4 FY19.
Revenue went up 63.7 percent at Rs 1,435.4 crore against Rs 878 crore YoY. EBITDA of the .company stood at Rs 404.7 crore against Rs 120.3 crore YoY. EBITDA margin came in at 28.2 percent against 13.7 percent YoY.
The Board of Directors of the company have recommended a final dividend at Rs 2.55 per share (face value of Rs 10 each) for the year ended March 31, 2020. This dividend upon approval by the shareholders at the ensuing Annual General Meeting(AGM) will be paid within 30 days from the date of AGM, the company said in a filing to the exchanges.
The stock price zoomed over 88 percent in the last 3 months and was trading at Rs 339.45, up Rs 37.90, or 12.57 percent at 09:57 hours. It has touched an intraday high of Rs 349.70 and an intraday low of Rs 334.15. It was also one of the top BSE smallcap gainers.
The stock also witnessed spurt in volume by more than 3.18 times and was trading with volumes of 97,048 shares, compared to its five day average of 31,141 shares, an increase of 211.64 percent.
According to Moneycontrol SWOT Analysis powered by Trendlyne, Bharat Dynamics has zero promoter pledge with low debt. The stock movement is showing strong momentum with price above short, medium and long term moving averages.
Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.