Engineers India Ltd to hold board meet on 29 oct, will consider bonus issue, here to why pick the stock

Navratna PSU Engineers India Ltd will hold the board meeting on October 29, 2024, to consider and approve the Notice of Board Meeting to, inter-alia, consider and approve Unaudited Standalone and Consolidated Financial Results for the Quarter and half year ended on 30th September 2024.

Engineers India is the latest technical pick of leading brokerage Prabhudas Lilladher. There is potential for a nearly 24% upside in the short term in Enginers India, as the brokerage believes that the stock has corrected significantly from its 52-week highs, and its moving average RSI is hinting at a positive momentum ahead.

Currently, the stock price is at Rs 185.55 apiece, with a market cap of Rs 10,428.70 crore. The stock is marginally improved by nearly 39% from its 52-week high of Rs 304 apiece. The stock's 52-week low is at Rs 116.50 apiece.

The company has carried out two bonus issues. The last bonus reward was of a 1:1 ratio in January 2017, while the first bonus allotment was of 2:1 in May 2010. In total, Engineers India has given 3 bonuses against two shares.

 The company has carried only one stock split and that was in May 2010. The stock split by the ratio of 1:2 on May 7th of that year, where the face value split from Rs 10 to Rs 5 each.

As per the Trendlyne data, since August 30, 2001, the company has delivered up to 43 dividends. In the past 12 months, the dividend payout was to the tune of Rs 3 per share. Currently, it has a dividend yield of 1.62%.