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Dividend paying Rakesh Jhunjhunwala stock may see 50% upside, says Anand Rathi

By Asit Manohar
Rakesh Jhunjhunwala portfolio: NCC shares are one of the dividend paying stocks as it has announced 100 per cent dividend recently.  (Bloomberg)

Highlighting the fundamentals that may fuel NCC share price rally in upcoming sessions, Anand Rathi research report says, "Strong positive CFO-led marked reduction in gross and net debt was the key notable from NCC’s Q4 and FY22 performances. Execution abilities too were at the fore. These two render growth prospects bright. Order additions and operating profitability were the two deliverables we were left desiring better. Nevertheless, NCC’s full-year additions were still good to replenish FY22 revenues. Input price pressure is real, but the gradual waning of the impact is not ruled out."

On its suggestion to positional investors in regard to NCC shares, Anand Rathi report says, "On the benign valuation and healthy prospects, we retain our Buy rating. The TP, though, we lower to Rs95 (from Rs105 earlier) on input price pressure."

Dividend paying stock

NCC has recently announced 100 dividend per share on the equity share of face value of 2 each, for the Financial Year 2021-22.

As per the information available on BSE website, "NCC Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 11, 2022, inter alia, has recommended Dividend of Rs. 2/- (100%) per share on the Equity Share of face value of Rs. 2/- each, for the Financial Year 2021-22, subject to the approval of the Members at the ensuing Annual General Meeting."

Rakesh Jhunjhunwala shareholding in NCC

As per the NCC shareholding pattern for January to March 2022 quarter, Rakesh Jhunjhunwala holding in NCC stands at 6,67,33,266 shares or 10.94 per cent stake in the company.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Dive Deeper:
Rakesh Jhunjhunwala held this public sector bank is a hot pick on markets post Q4 earnings
For the full year FY22, net profit climbed to ₹5,678.42 crore more than doubled from ₹2,557.58 crore in FY21. Net…
PNB Q4 net drops 66% to Rs 202 crore
NEW DELHI: Public sector lender Punjab National Bank on Wednesday reported a 66 per cent decline in its standalone net…
Rakesh Jhunjhunwala portfolio stock hits 52-week low. Share dips 30% this year
Rakesh Jhunjhunwala portfolio: According to Rallis India shareholding pattern for January to March 2022 quarter, Big Bull and his wife…
This Rakesh Jhunjhunwala-led Tata stock has potential for upside ahead. 4 key trigger points
In Q4FY22, Tata Motors posted a net loss of ₹1,033 crore for the quarter ending March 31, 2022 (Q4FY22) -…
One subscription that gives you access to news from hundreds of sites
Rakesh Jhunjhunwala portfolio: Experts recommend buy on this below ₹100 stock
Rakesh Jhunjhunwala portfolio: Federal Bank shares are currently trading in ₹83 to ₹90 range and it may become highly bullish…
Rakesh Jhunjhunwala portfolio: Brokerage sees over 30% upside on this banking stock
Given inexpensive valuation, the brokerage has recommended Buy on Canara Bank shares
Get all your news in one place