Share split, dividend: Bharat Dynamics shares jump as investors cheer corporate action announcements

Bharat Dynamics Ltd (BDL) stock price, share market news: Bharat Dynamics Ltd (BDL) shares gained on Friday after the state-run defence equipment manufacturer's board approved proposals to split its stock and pay an interim dividend to shareholders. The stock of BDL strengthened by as much as Rs 58.5, or 3.5 per cent, to Rs 1,720 apiece in early deals on BSE. 

At 10:30 am, BDL shares held firmly to the green, up 2.1 per cent or the day at Rs 1,696 apiece.

After market hours on Thursday, BDL said in a regulatory filing that its board had given the nod to a 2:1 share split plan, wherein shareholders owning would get two shares for each share held in the company. 

Also, the company's board approved an interim dividend of Rs 8.85 per share for the current financial year, with a record date of April 2. 

Bharat Dynamics stock split

The company plans to split each of its share of the face value of Rs 10 into two shares of the face value of Rs 5 each, subject to shareholders' approval.

BDL is yet to decide the record date for the stock split after obtaining approval from the shareholders' approval. 

Bharat Dynamics dividend 

The company said the interim dividend will be paid to eligible shareholders on or before April 18. 

In a separate development, the BDL board approved the appointment of General Manager (Finance) G Gayatri Prasad as Chief Financial Officer (CFO), consequent to the cessation of N Srinivasulu as Director
(Finance) and Chief Financial Officer on January 31, 2024.

What to do with BDL shares

Earlier on Friday, Zee Business analyst Varun Dubey recommended buying Bharat Dynamics shares for a target of Rs 1,730 with a stop loss at Rs 1,640.

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