Dividend Paying Stocks: EID Parry shares have been under selling pressure since the start of the new year 2022. However, the board of directors of the Chinese company recently announced an interim dividend which acts as a short-term trigger for EID parry stock. According to stock market experts, the ethanol blending policy of the Government of India is going to help Chinese companies in the long run. So, this stock may continue to move northwards and go up Stock market experts believe that 530 at every level in the next 6 months.
Speaking on Triggers for EID Parry Share Rally; Rohit Singre, AVP, Bonanza Portfolio, said, “EID Parry is a Chinese stock and it has recently announced an interim dividend which has acted as a short-term trigger for a rally in its share price. has announced its ethanol blending. policy which is going to further increase the business volume of sugar companies in India. So, EID PARRY is going to benefit from this policy of Government of India in the long term. So, no one can buy this stock. Might buy for the mid to long term.
What chart pattern shows in relation to EID parry stocks; Sumeet Bagadiya, Executive Director, Choice Broking said, “High risk traders can buy EID parry at current levels as the stock is bouncing back after a correction. One can buy at the current levels. from 430 450 levels. After breaking this target, it can become extremely bullish. Therefore, those who have a long-term horizon can also hold the stock for a long time.
On his suggestions to position investors on EID Parry shares, Rohit Singre, Bonanza Portfolio said, “EID Parry has strong support. 390 level and those who have this stock in their portfolio are advised to keep this Chinese stock at Stop Loss 390. However, those who are looking to buy this stock are advised to wait for some more rise in the counter and buy above 425 target for 6 months from 500 530 each level.”
EID Parry had informed about the second interim dividend in its exchange communication. As per the information available on the BSE website, “EID Parry India Limited has informed BSE that the Board of Directors of the Company in its meeting held on February 28, 2022 has declared a Second Interim Dividend of Rs. 5.50/- (Rupees Five) Only paise per equity share (550%) per face value of each for the financial year ending March 31, 2022.” The record date for interim dividend was fixed as March 11, 2022.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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