This stock has given 450% dividend; 85% return in 6 months; should you buy it?

Stock to BUY: After this company reported its third-quarter results and the dividend, the brokerage has advised to buy the shares of this power company. Know complete details including the target price and the record date.

Along with Q3 results, the company has also announced its dividend. A dividend of 450 per cent i.e. Rs 4.50 per share has been issued on the face value of Re 1. Photo: Pixabay/Representational

Stock to BUY: After the third quarter results, the brokerage has advised to buy power generation and distribution company CESC Ltd. This week, this share closed at the level of Rs 138.

Recently, the company has also reported its Q3 results, giving a dividend of 450 per cent to its investors.

Read about what brokerage Elara Capital has recommended about its stock target, and what is the record date for the dividend.

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CESC Share Price Target

After the results, Elara Capital has advised to buy this stock.

The brokerage has given a target of Rs 167, which is about 21 per cent more than the current level.

The report said that the results are muted, but the renewable energy is an important trigger.

Many important steps have been taken in this direction.

Preparations are underway for a big investment.

This stock has increased by 19 per cent in the one month, 55 per cent in the three months, 85 per cent in the six months and 87 per cent in the one year.

CESC Q3 Results

On a consolidated basis, the gross revenue of CESC stood at Rs 3301 crore with a jump of 2 per cent.

The profit declined by 10 per cent to Rs 301 crore.

There was a growth of 5 per cent in EBITDA and it stood at Rs 963 crore.

Talking about the performance of 9 months of FY24, 7 per cent growth has been recorded in revenue, 15 per cent growth in EBITDA and 8 per cent growth in profit.

CESC Dividend Details

Along with Q3 results, the company has also announced its dividend.

A dividend of 450 per cent i.e. Rs 4.50 per share has been issued on the face value of Re 1.

For this, the record date (CESC Dividend Record Date) has been fixed as 1 February 2024.

Its dividend yield is 3.26 per cent. It means, on an investment of Rs 1000, you will get Rs 33 as dividend every year.

Disclaimer: The advice to invest in stocks here has been given by the brokerage house. These are not the views of Zee Business. Consult your advisor before investing.)

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