If you are interested in making profits from the stock market, it is important to choose a strong stock. Today, I would like to share information about a stock that has been recommended by the well-known brokerage firm, Motilal Oswal Financial Services. The stock in question is Exide Industries Ltd. According to the brokerage firm, it is a good stock to buy for a period of 2 to 3 days. Notably, Exide Industries recently announced impressive fourth-quarter results and has declared a remarkable 200% dividend for investors. Investing in this stock could potentially lead to substantial profits.
Best Stocks for short term
As per the analysis by Motilal Oswal Financial Services, the shares of Exide Industries are expected to reach around ₹220 within the next 2 to 3 days. Therefore, the brokerage firm recommends buying the shares at approximately ₹211. This indicates that the shares have shown significant returns during regular trading hours. Notably, Exide Industries’ shares have witnessed a growth of over 10% in the past month alone. Furthermore, investors have enjoyed returns of more than 44% throughout the entire year.
Company is giving 200% dividend
According to the exchange filing, Exide Industries has declared a dividend of ₹2 per share on a face value of ₹1. This implies a dividend profit of 200% per share. However, the dividend approval is currently pending at the Annual General Meeting (AGM), but once approved, the dividend will be disbursed to the investors. It is important to note that the 76th AGM is slated for August 8, 2023. The dividend payment to the investors will be made within 30 days of the conclusion of the AGM.