Saregama India, CCL Products shares gain ahead of record date; multibagger entertainment stock surged 400% in one year

Shares of Saregama India Ltd and CCL Products surged 5 per cent on the BSE on Monday ahead of the record date for interim dividend announced by the two companies. Saregama India Ltd and CCL Products record dates for interim dividend of Rs 30 per equity share and Rs 3 for each share held have been fixed as February 1, 2022, the day Union Finance Minister will present Budget 2022-23. 

Record date is the date when the company finalises eligible shareholder in the records of the company if they hold the shares on the given date.  

Shares of Saregama India Ltd touched the day's high of Rs 4730, and settled with gains of Rs 221.40 per share or 4.91% to Rs4728 apiece on the BSE.   

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On January 19, 2022, the Board of Directors of Saregama India Ltd at its meeting had declared an interim dividend Rs 30 per equity share (i.e. 300%) on the paid-up equity share capital of the company payable to those members whose names appear in the Register of Members of the Company at the close of the business on February 1, 2022 being the record date to ascertain the eligibility of members to receive the said interim dividend. 

As on January 31, this entertainment sock surged whooping 400% in just one year. Interestingly, Saregama shares gained barely 35% in six months, making over 350 of the rally in the next six months.  

CCL Products stock price too surged over 5 per cent to the day's high of Rs 489 before closing at Rs 470.20, up RS 22.10 or 4.93% on the BSE.   

In a regulatory filing on the BSE on January 19, the company said," The Board of Directors of the Company have decided declared an interim dividend of Rs.3 per equity share of nominal value of Rs.2 each for the financial year 2021-22. Fixed Record Date on Tuesday, 01 February, 2022 for the payment of interim dividend. Dividend declared will be paid within 30 days from the date of declaration."  

Shares of this company catering to tea and coffee segment have gained over 95 per cent in the last one year as on January 31.