Maharashtra Scooters Declares Interim Dividend for Financial Year 2024-25
Bajaj Group’s Maharashtra Scooters Limited has announced an exciting interim dividend of Rs 110 per share for its shareholders for the financial year 2024-25. This decision was made during a board meeting on September 12, 2024, showcasing the company’s commitment to rewarding its investors. The critical record date for shareholders to qualify for this interim dividend has been set for September 25, 2024. Only those shareholders who are registered in the company’s Register of Members or Depositories as beneficial owners by this date will be entitled to receive the dividend.
Dividend Payment Timeline
The company has confirmed that the payment of the dividend will be credited to eligible shareholders on or around October 10, 2024. This timely distribution underscores Maharashtra Scooters’ dedication to maintaining transparency and efficiency in its financial dealings.
Company Overview
Maharashtra Scooters Limited operates primarily as a manufacturing and core investment entity. It holds the status of a subsidiary under Bajaj Holdings and Investment Limited, a prominent player in the automotive sector. The recent approval of the interim dividend reflects the company’s strong financial health and operational success.
Current Stock Performance
As of September 12, 2024, the stock of Maharashtra Scooters closed at Rs 10,310.25 on the Bombay Stock Exchange (BSE), marking a slight gain of 0.50 percent. The company’s market capitalization is estimated at approximately Rs 11,800 crore. During the trading session, shares surged by 1 percent from the previous closing price, reaching a remarkable 52-week high of Rs 10,383.25, demonstrating significant investor confidence.
Recent Growth Metrics
| Time Frame | Stock Price Increase |
|---|---|
| Last 6 Months | Over 40% |
| Last 1 Month | Nearly 11% |
The company’s promoters held a substantial 51 percent stake in Maharashtra Scooters as recorded at the end of June 2024. The stock has demonstrated impressive momentum, climbing 43 percent over the past six months, reflecting a robust market position.
Future Initiatives
Moreover, in a strategic move to enhance operational efficiency, Maharashtra Scooters had announced a voluntary retirement scheme for its employees earlier in April 2024, aimed at streamlining workforce management at its Satara plant. This initiative speaks to the company’s forward-thinking approach to business sustainability and employee welfare.
In conclusion, Maharashtra Scooters Limited continues to be a noteworthy player in the market, with its recent interim dividend announcement and impressive stock performance solidifying investor interest and confidence in the company’s promising future.
