Smallcap stock zooms on strong results, Rs 15 per share dividend announcement; should you pick?

KSB Share Price Today, Share Dividend Announcement: Pump and valve manufacturer KSB's shares skyrocketed on Friday, a day after the company reported a strong set of quarterly results and announced a dividend for investors. KSB shares zoomed by as much as Rs 165.6 or 8.9 per cent to Rs 2,016.7 apiece on BSE, having crossed the Rs 2,000 level in intraday trade for the first time since December 1.

At 10 am, the KSB share price was at Rs 1,991.2, up by Rs 140.1 or 7.6 per cent from its previous close.

Zee Business analyst Varun Dubey suggests buying KSB shares in the spot market for a target price of Rs 1,900 with a stop loss at Rs 1,830. Check out the complete list of stock recommendations today

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KSB Q3 results

KSB reported a jump of 41.9 per cent in net profit to Rs 55.9 crore for the quarter ended December 2022 compared with the corresponding period a year ago. Its revenue grew 18 per cent on a year-on-year basis to Rs 524.8 crore, according to a regulatory filing.

Its margin — a key measure of profitability — improved by 190 basis points on a year-on-year basis to 14.6 per cent.

KSB Dividend announcement

KSB's board announced a dividend of Rs 15 per share.

KSB share price history

KSB shares have more than doubled in the past one year.

The company will conduct its annual general meeting (AGM) on May 11.

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