Dividend paying SME stock surges 1600% in 7 years. Do you own?
Dividend paying stock: Hi-Tech Pipes IPO are one one of those public issues that have delivered stellar return to tis allottees. The public issue was launched in February 2016at a fixed price of ₹50 apiece. the issue was proposed for listing on NSE SME exchange and in last seven years, the SME stock price has risen to the tune of ₹854 apiece levels, delivering 1600 per cent return to its allottees, who remained invested in the stock till date.
Hi-Tech share price history
As mentioned above, this NSE SME IPO was launched at a price of ₹50 apiece and the stock closed at above ₹56 apiece on NSE on its listing date, delivering more than 10 per cent listing gain to its allottees. However, if an allottee had remained invested in the scrip till date, then the absolute value of one’s money invested in the scrip would have grown by around 1600 per cent as the stock is available today at a price of ₹854 apiece.
Hi-Tech Pipes IPO was offered at a price of ₹50 and one lot of the public issue comprised 3000 company shares. This means minimum investment of an allottee in the SME IPO was ₹1.50 lakh. If an allottee had remained invested in the stock till date, then its ₹1.50 lakh would have turned to ₹25.62 lakh today.
The allottee had an extra income from the interim dividend that the SME company announced in the year 2022. Hi-Tech Pipes shares are one of the dividend paying stocks on Dalal Street in 2022. as per the information available on BSE website, this SME stock traded ex-dividend in September 2022 for payment of ₹0.50 per equity share interim dividend for the financial year 2022-23 to its shareholders.
Hi-Tech Pipes in news
The NSE listed stock is in news for signing MoU with the government of Uttar Pradesh for setting up of a Mega manufacturing facility of Steel tubes & Pipes and Flat Steel Processing. Under this MoU the proposed investment will be of ₹510 Crores to be invested in phased manner.
Speaking on the MoU with the government of UP, Ajay Kumar Bansal, Managing Director at Hi-Tech Pipes said, “We are extremely proud and happy that the Company has entered this MoU with UP Government, Hi-Tech Pipes has strong presence in Uttar Pradesh for more than Three Decades with our own manufacturing facility(ies). This MoU further reinforces our commitment to the state by creating more employment and business opportunities. This transaction will support the capacity expansion plans and to strengthen our position in the steel tubes & pipes Space.”
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.