Anand Rathi is an Association of Mutual Funds in India(AMFI) registered mutual fund distributor and is one of the leading non-bank wealth solutions firms in India, being ranked amongst the top three non-bank mutual fund distributors in the country. The company offers a wide product portfolio of wealth solutions, financial product distribution, and technology solutions to its clients.

Anand Rathi Financials :

Anand Rathi has proved to be a Multibagger since the date of it’s Listing in the market. Previous year it gave a return of 379.15% and from the date of listing , it has given 599.76% return.

It announced its Q4FY23 results on 30/05/2024 in the midnight.

The company’s current Market Cap is ₹ 17,171 Cr. The P/E Ratio of the Stock is 76.3 against the Industry P/E of 20.7 .

The Q4FY23 results also improved in comparison to the previous FY March quarter:

The Quarterly Sales in comparison to March 2023 Increased by 61.43% and the Net profits increased by 250%.

The Annual Results of the company are as follows : (Amount in Crores)

The percentage increase in the annual results are :

As per the data available, it is shown that in March quarter, the Promoters have decreased their stake by 0.18% to 48.02% while the FII’s have increased their stake in the company by 61.46% to 4.86% in comparison to the  December quarter.

Anand Rathi Dividend & Buyback :

Dividend :

Since the company has given a good results , the Board of Directors have announced a Final dividend of Rs. 9 per share. The Record Date for the purpose of Final Dividend
for FY 2023-2024 will be Monday, June 03, 2024 and the Ex-Date shall be Monday, July 15, 2024.

Anybody who wants to get the dividend must purchase the shares on/before June 02, 2024  to get themselves resister in the record of the eligible receivers of the dividend.

The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 03/06/2024 and still they will be eligible to receive the dividend as their name would have been registered on 03/06/2024.

Buyback :

The Buyback shall be done at a price of ₹ 4,450/per equity share.The Board of Directors has fixed Monday, June 03, 2024, as the Record  date for the purpose of buyback i.e investors should have the shares of Anand Rathi by June 02,2024 in their demat account in order to participate in the buyback.

The current market price of the share is ₹4100, i.e. if any person buys the shares at this price today & is Buyback application is accepted then that person would gain a profit of ₹350 per share ( 4,450- 4100).

In  Conclusion, the Record Date of Dividend & Buyback are same i.e. on Monday, June 03, 2024.

ALSO READ : Bharat Rasayan share jumps 16.8% after Q4 profits surge. Announces Dividend @ 1.5/share

Anand Rathi Share Price Target 2024 :

Anand Rathi is trading near ALL TIME HIGH and is exected to give a breakout very soon which would lead to reach to a price of 4,500 in the near terms.

The stock is currently consolidating in a range between 4,200 to 3,800. The breakout of the 4,200 level could give a strong bullish momentum in the stock in near term.

This range is also known as DARVAS BOX Pattern.

Disclaimer
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.