Dr Lal Pathlabs Declares 60% Interim Dividend: Stock Records Impressive Gains

Rajesh
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In a recent announcement, leading diagnostic and healthcare services provider, Dr Lal Pathlabs Ltd., declared an interim dividend of Rs 6 per equity share for FY24, which amounts to 60% of the face value of Rs 10 per share. This move is set to benefit the company's shareholders, with the Record date for the dividend payment scheduled for August 11, 2023. Dr Lal Pathlabs, a prominent midcap company with a market cap of Rs 20,701.49 Crore, has been displaying impressive performance in the stock market, witnessing substantial gains over various timeframes.

Dr Lal Pathlabs Declares 60% Interim Dividend: Stock Records Impressive Gains

Interim Dividend Declaration:

Dr Lal Pathlabs' Board made an exchange filing confirming the interim dividend of INR 6/- per equity share, equivalent to 60% of the face value of INR 10/- per share, for FY 2023-24. Shareholders of the company as of the Record date, August 11, 2023, will be entitled to receive the dividend.

Stock Performance and Market Insights:

The stock of Dr Lal Pathlabs has been displaying remarkable growth in recent times. On the BSE, the shares closed at Rs 2481.75 apiece, marking a significant increase of 2.75%. The intraday high and low were observed at Rs 2498 and 2415.30, respectively.

Over different time periods, the stock has exhibited noteworthy returns, making it an attractive investment option. Notably, in the last 1 week, the stock gained an impressive 5.60%. Additionally, in the last 1 month and 3 months, it surged by 11.79% and 28.40%, respectively. Over the course of 1 year, the stock delivered a positive return of 14.35%. However, in the span of 2 years, it experienced a decline of 31.33%. Over a more extended period of 3 years, the stock provided a considerable return of 27.28%, and in 5 years, investors enjoyed a remarkable growth of 169.87%.

Furthermore, the stock's 52-week-high was recorded on September 28, 2022, at Rs 2752.15 apiece, while its 52-week-low was observed on March 20, 2023, at Rs 1762.70 apiece.

Conclusion:

Dr Lal Pathlabs' declaration of a 60% interim dividend for FY24 reflects the company's robust financial position and commitment to rewarding its shareholders. With impressive gains in the stock market over various timeframes, Dr Lal Pathlabs stands out as a promising midcap stock for potential investors. However, readers are advised to consult certified financial experts before making any investment decisions, as market conditions can be subject to change.

Note: 

The information and insights provided in this article are based on analysis from market experts and not personal financial advice.

Also Read : Cipla Stock Analysis: A Pharma Gem with Strong Q1 Results.

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