Indusind Bank declairs Final Dividend. Know the record date, payment date, and more
Indusind Bank Ltd India has declaired dividend. It was started under the chairmanship of Srichand P Hinduja, the head of the Hinduja Group of Companies with the primary objective of serving the NRI community.
The Bank has built expertise in vehicle financing, micro-financing and diamond manufacturer financing.
It’s a large cap company having the Market Cap of ₹ 1,14,236 Cr.The 52 Week High (on 15-Jan-2024) was Rs 1694.50 & the 52 Week Low (on 01-Jun-2023) was Rs 1251.50.
Indusind Bank Dividend
Indusind Bank has declared a dividend of Rs. 16.50 per equity share of Rs.10/- each fully paid up (i.e. 165 %)out of the net profits for the year ended March 31, 2024.
The Bank has fixed Friday, June, 28, 2024 as the ‘Record Date’ for payment of final dividend i.e. anybody who wants to get the dividend must purchase the shares of the bank on/before 26/7/2024 to get themselves resister in the record of the eligible receivers of the dividend.
The payment date of the dividend will be on 1/7/2024. The investors will receive the payment of their dividend in their respective bank accounts on/before 1/7/2024.
The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 28/7/2024 and still they will be eligible to receive the dividend as their name would have been registered on 27/7/2024.
It is to be noted that on the record date , the share price of IndusInd Bank will fall by the dividend amount i.e it will fall by Rs16.50 per equity share to adjust its price to ex-dividend price.
IndusInd Bank share price target by 2024
At the time of writing this blog,the CMP(current market price) of Indusind Bank is Rs1465.Currently the share is trading in a sideways zone and is expected to give a good move when it crosses Rs 1575.If it crosses Rs 1575, then the target price of Indusind Bank can be/it can easily give a return of 7.8% from that level to Rs1700.However,if the share crosses Rs 1377 levels, then it will witness further correction dropping to Rs 1273.
IndusInd Bank Financials
The quarterly results are as follows:(Amount in crores)
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Revenue | 10,021 | 10,730 | 11,248 | 11,572 | 12,199 |
| Financing Margin % | 6% | 6% | 6% | 6% | 5% |
| Net Profit + | 2,041 | 2,124 | 2,181 | 2,298 | 2,347 |
The company’s Quartely Sales and Net profits are increasing by the folowing percentages:
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Revenue Increase % | – | 7.08% | 4.82% | 2.88% | 5.42% |
| Net Profit Increase % | – | 4.07% | 2.68% | 5.36% | 2.13% |
The ANNUAL P/L are as follows : (Amount in crores)
| Category | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|
| Revenue | 30,822 | 36,368 | 45,748 |
| Financing Margin % | -3% | 6% | 6% |
| Net Profit + | 4,611 | 7,390 | 8,950 |
| Dividend Payout % | 14% | 15% | 14% |
The financial results seems to be positive for investors . However they use consider the advice of their financial advisors before investing.
Disclaimer
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision
