News

Published: September 15, 2023
Updated: September 15, 2023

Bajaj Holdings and Investment Announces Lucrative ₹110 Dividend Per Share

In a recent development, Bajaj Holdings and Investment Ltd. made a significant announcement regarding an interim dividend of ₹110 per share, equivalent to a generous 1,100 percent dividend, for the current financial year. This article explores this financial development and delves into the company's profile, recent performance, and its impact on the market.

The Dividend Declaration:

Bajaj Holdings and Investment Ltd. declared an interim dividend of ₹110 per share, demonstrating their commitment to rewarding shareholders. The record date for dividend payment has been set for September 29, 2023. This move underscores the company's robust financial position and its dedication to shareholder value.

Strong Financial Performance:

In a testament to its financial prowess, Bajaj Holdings and Investment reported impressive results for the April-June quarter of fiscal 2023-24 (Q1FY24). The company saw a remarkable 46 percent increase in consolidated net profit, soaring from ₹969.33 crore in the corresponding period the previous year to ₹1,415.50 crore. Furthermore, its revenue from operations in the first quarter of the current fiscal year reached ₹104.04 crore, reflecting a substantial 14 percent growth compared to the previous year.

Bajaj Holdings and Its Strategic Investments:

Bajaj Holdings and Investment Ltd. is a primary investment company with a strategic focus on exploring new business opportunities. The company holds a significant 33.43 percent stake in Bajaj Auto Ltd. and a substantial 39.29 percent stake in Bajaj Finserv. Its core revenue streams include dividends, interest, and investment gains. This financial powerhouse serves as the flagship of the esteemed Bajaj group of companies.

Market Response:

On September 15, following this dividend declaration, Bajaj Holdings' shares experienced a positive response, settling 0.69 percent higher at ₹7,069.80 apiece on the BSE. With a substantial market capitalization of ₹78,682.29 crore, the company is a prominent player in the financial landscape.

Bajaj Holdings and Investment's announcement of a ₹110 dividend per share exemplifies its commitment to shareholder value and reflects its robust financial performance. This development has garnered favorable attention in the market, further solidifying the company's position as a key player in the financial sector.