02 Jul , 2022 By : Kanchan Joshi
In the sugar industry, Magadh Sugar & Energy Ltd. is a small-cap company with a market valuation of Rs. 444 crore. The company belongs to the K.K. Birla Group of Sugar Companies. The company operates three sugar mills with a total crushing capacity of 17,500 TCD at New Swadeshi Sugar Mills in Narkatiaganj (District West Champaran, Bihar), Bharat Sugar Mills in District Sidhwalia, Bihar, and Hasanpur Sugar Mills in Hasanpur (District Samastipur, Bihar). The company also has one distillery at Narkataiganj with a total capacity of 60 KLPD and a cogeneration plant that produces 38 MW power. Magadh Sugar & Energy has announced a 65.00 per cent equity dividend with a face value of Rs10, or Rs6.5 per share, for the fiscal year ending March 2022. The dividend yield at the current share price of Rs316 is 2.05 per cent. For the purpose of dividend, the company has fixed record date to determine the eligibility of the shareholders.
The company has said in BSE exchange filing that “Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has fixed Thursday, July 14, 2022 as the Record Date for determining entitlements of members to final dividend of Rs. 6.50/- per equity share of Rs10/- each, if declared at the forthcoming Annual General Meeting of the Company scheduled to be held on July 21, 2022. The Register of Members and Share Transfer Books of the Company will remain closed from Friday, July 15, 2022 to Thursday, July 21, 2022 (both days inclusive) for the said purpose."
The stock declined 0.33 per cent from yesterday's close of Rs317.05 and ended trading today at Rs316. The stock has fallen 14.64 per cent over the past year, but it has increased 27.16 per cent YTD so far in 2022. The 52-week high for Magadh Sugar shares on the NSE was Rs. 455.95 on April 22, 2022, and the 52-week low was Rs. 230.00 on December 20, 2021, meaning that the stock is now trading 30.69?low its 52-week high and 37.39?ove its 52-week low. Using today's closing price as a comparison, the stock is trading above the 200-day and 5-day moving averages but below the 20-day, 50-day, and 100-day moving averages.