Investment prosperity in half a decade: Ashish Kacholia's high-yielding stock transitions ex-dividend, share value increases by 4%
In a significant development for the specialty chemicals sector, TANFAC Industries Limited, based in Tamil Nadu, has seen a remarkable surge in its stock price over the past six months. The company, which operates in a diverse range of specialty chemicals, including anhydrous hydrofluoric acid, sulphuric acid, oleum, and more, has witnessed a 42% gain in its dow jones industrial average.
As of Wednesday, TANFAC's stock closed at Rs 4,647.95 on the BSE, having risen as much as 4.1% from its previous close of Rs 4,461.40. This growth has propelled the company's stock market capitalisation to Rs 4,588 crore.
Over the past five years, TANFAC has delivered an impressive return of 2,517.83%, with the share price surging from Rs 174.95 to Rs 4,579.90. The company's low volatility is evident from a one-year beta of 0.6, indicating a stable investment.
TANFAC's manufacturing facilities are spread across 60 acres in the SIPCOT Industrial Estate, Cuddalore. The company is a joint sector entity, promoted by Anupam Rasayan India Limited and Tamil Nadu Industrial Development Corporation (TIDCO).
Notably, the board of TANFAC has recommended a dividend of Rs 9 per share with a face value of Rs 10. If this dividend rate is maintained, prominent investor Ashish Kacholia could potentially earn an estimated Rs 14.24 lakh in dividends, given his 1.59% stake in the company, representing 1,58,229 shares.
The stock of TANFAC Industries is currently trading above its 50-day SMA of Rs 4,495.6 and its 200-day SMA of Rs 3,443.4, indicating a positive trend. The RSI (Relative Strength Index) for TANFAC's stock is currently 45.5, and the MFI (Money Flow Index) is 44.7, suggesting a healthy momentum in the stock market.
On September 17, TANFAC Industries turned ex-dividend, following the ex-dividend date for Volkswagen AG on the same day, with the shareholders' meeting recommending a dividend of 6.30 euros per common share and 6.36 euros per preferred share.
As TANFAC Industries continues to make strides in the specialty chemicals sector, investors remain optimistic about the company's future growth prospects. With a strong foundation in diverse specialty chemicals and a promising outlook, TANFAC Industries is poised to maintain its upward trajectory in the stock market.
