Large cap stock at a new 52-week-high level to pay 275% dividend soon, FII stake jump to 7.55% in Q3
With a market valuation of ₹71,976.80 Cr, ABB India Ltd. is a large cap company with operations in the industrial sector. ABB is a cutting-edge technology leader with a wide range of products for the digital industry. Almost 26 locations throughout the subcontinent are home to the firm.
The Board of the firm recommended a dividend for Q3FY23 of Rs.5.50 per share, or 275%, on 21,19,08,375 Equity Shares with a face value of Rs.2/- each that will be completely paid up for the fiscal year that ended December 31, 2022, subject to shareholder approval.
By announcing the record date for dividend, the Board of Directors of ABB India said in a stock exchange filing that “The Register of Members and Share Transfer Books of the Company will remain closed for the purpose of Annual General Meeting and payment of dividend from April 28, 2023 to May 04, 2023 (both days inclusive) that may be declared at the 73rd Annual General Meeting of the Company. The dividend, if declared at the 73rd Annual General Meeting, will be paid/dispatched after May 04, 2023, to those Shareholders or their mandates whose names appear as Members in the Company/s Register of Members as holders of Equity Shares as at the end of the business hours on April 27, 2023 and in respect of shares held in electronic form, to whose names appear as Beneficial Owners as at the end of the business hours on April 27, 2023 as per details to be furnished by National Securities Depository Ltd. and Central Depository Services (India) Ltd.”
The company’s 73rd Annual General Meeting will take place on May 4, 2023 at 11 a.m. (IST) at “Aura”, Taj Yeshwantpur, Bengaluru, 2275, Tumkur Road, Yeshwantpur, Bengaluru, 560 022.
On Friday the shares of ABB India closed on the NSE at ₹3,397.00 apiece level, up by 0.68% from the previous close of ₹3,374.15. The stock recently touched its new 52-week-high level of ₹3,467.95 on (06-Apr-2023) whereas it touched a 52-week-low of ₹2,000.00 on (04-May-2022). During Q3FY23, the company recorded a promoter shareholding of 75.00%, FIIs stake of 7.55%, DIIs stake of 9.73% and a public stake of 7.71%. As per the data of Trendlyne, the promoter stake of ABB India remains unchanged at 75.00% in December 2022 quarter, FII/FPI stake rose from 5.39% in September 2022 quarter to 7.55% in December 2022 quarter, the number of FII/FPI investors skyrocketed from 335 in Q2FY23 to 571 in Q3FY23, mutual funds holdings plummeted from 8.02% to 6.61% and institutional investors holding remains unchanged at 17.28% in Q3FY23.
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