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