In the sugar industry, Magadh Sugar & Energy Limited is a small-cap company with a market valuation of Rs. 444 crores. The company belongs to KK Birla Group of Sugar Companies. The company operates new indigenous sugar mills at Narkatiaganj (District West Champaran, Bihar), Bharat Sugar Mills in Sidhwalia District of Bihar and Hasanpur Sugar Mills at Hasanpur (District Samastipur, Bihar) three sugar mills with a total crushing capacity of 17,500 TCD. Is. , The company also has a distillery at Narkataiganj with a total capacity of 60 KLPD and a co-generation plant which generates 38 MW of electricity. Magadh Sugar & Energy has declared an equity dividend of 65.00 per cent with face value 10, or 6.5 per share, for the financial year ended March 2022. Dividend Yield at Current Share Price 316 is 2.05 percent. For dividend purposes, the company has set a record date to determine the eligibility of shareholders.
The company said in a BSE exchange filing that “In accordance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we inform you that the Company has declared a final dividend of Rs. Record date for determining the eligibility of members for Rs.6.50/- per equity share 10/- each, if declared in the ensuing Annual General Meeting of the company to be held on 21st July, 2022. The Register of Members and Share Transfer Book of the Company shall remain closed from Friday, 15th July, 2022 till Thursday. 21st July, 2022 (both days inclusive) for the said purpose.”
The stock fell 0.33 percent from yesterday’s closing price 317.05 and today’s trade ended at 316. The stock has fallen 14.64 percent in the past year, but it has risen 27.16 percent YTD so far in 2022. 52-week high for Magadh Sugar shares on NSE at Rs. 455.95 on April 22, 2022, and 52-week low of Rs. 230.00 on December 20, 2021, which means that the stock is now trading 30.69% below its 52-week high and 37.39% above 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.