Mumbai: Maharashtra Scooters Limited, a part of the Bajaj Group, has surprised its investors by announcing an interim dividend of Rs.160 per Rs.10 equity share- a 1600% dividend on the face value. Following the announcement on Monday, September 15, the company’s shares rose 5%.
According to a statement to the bourses, the record date to determine eligible shareholders is Monday, September 222, with the dividend amount to be credited on Monday, October 13.
Pune-based Maharashtra Scooters has been one of the most sought-after stocks in the market, primarily for its generous dividend payouts. Last year, the company paid Rs.170 as dividend in total, with most of its almost bi-annual dividends being above Rs.20 since 2013, according to Trendlyne data.
As a subsidiary of the Bajaj Group, Maharashtra Scooters is primarily an unregistered core investment company. It produces dies, fixtures, jigs and die-casting components for the automobile industry, with the majority of its assets held by the Bajaj Group.
The company has reported a sharp rise in net profit for Q1FY26, rising 328.09% to Rs.35.36 crore as against the same quarter last year. The total income also rose 241% from the corresponding period last year. The company’s shares have risen more than 480% in the last five years, making this a must have stock in investor portfolios.
The Bajaj Group’s holding company, Bajaj Holdings, holds a majority 51% stake in the company.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in stocks includes financial risks, and past performance is not indicative of future results. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
