Share Price of Linde India (LINDE INDIA), Linde India Q4 FY24 Findings: After the industrial gases and engineering business announced a dividend of Rs 12 and released its financial results for the March quarter, Linde India shares rose for a second consecutive day on Thursday. The Linde India shares rose as far as Rs 824.8, or 9.8%, to Rs 9,244.6 each during the trading session before settling in heavy volume trading at Rs 9,135.2 apiece for the day on the BSE.
Linde India Shares Surge Despite Mixed Q4 Results After Dividend Declaration
Linde India Q4 FY24 Results
Linde india Share Price (LINDE INDIA): On Thursday, Linde India’s stock rose for a second consecutive day following the industrial gases and engineering The company declared a dividend of Rs. 12 and released its financial results for the quarter ending in March. In heavy trade, the Linde India shares surged as much as Rs 824.8, or 9.8%, to Rs 9,244.6 per share on the BSE.
The shares of Linde India (LINDE INDIA) ended the day up Rs 715.4, or 8.5 per cent, at Rs 9,135.2 apiece on the stock exchange. According to provisional BSE statistics, up to 32,000 Linde India shares exchanged hands during the session, a significant increase over the daily average of 7,424 shares reported during the previous two weeks.
Results for Linde India’s Q4 FY24
Linde India announced after market hours on Tuesday that its consolidated net profit for the fourth and final quarter of FY24 increased 6.3% year over year to Rs 105.4 crore.
According to a regulatory filing, its revenue for the quarter stayed unchanged at Rs 630 crore when compared to the same period last year.
For the quarter that ended on March 31, 2024, Linde India reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 178.3 crore, compared to Rs 186.1 crore for the same period the previous year.
According to the report, the company’s quarterly margin, which is a crucial indicator of a company’s profitability, decreased by 124 basis points (bps) to 28.3 percent on an annual basis.
Dividend for Linde India Shares Surge Despite Mixed Q4 Results
For the fiscal year 2023–2024, Linde India declared a dividend of Rs 12 per stock, which includes a special dividend of Rs 8.
What’s causing the Linde India stock to rise?
In an industry where environmental responsibility is becoming more and more important, Linde India’s strategy emphasis on sustainability and its investments in green technologies stand as important differentiators. Sugandha Sachdeva, the founder of SS Wealth Street, told stock24news.com that these actions “position the company favorably, not only in terms of aligning with evolving market trends but also in enhancing its long-term sustainability and competitiveness. ”
“In summary, Linde India’s outlook remains optimistic, with indications pointing towards continued upward momentum,” Sachdeva continues.
How should investors proceed?
recommending Linde India stock investors “buy on dips” in order to capitalize on the stock’s momentum,
Sachdeva stated: Given the stock’s favorable technical indicators and strategic positioning in the context of sustainability-driven market dynamics, investors can profit from the stock’s potential for additional growth.
“Once the near-term hurdle of Rs 9,935 is convincingly breached on a closing basis,” she believes the stock would move higher and eventually move towards Rs 11,300 per share.
According to Sachdeva, the formation of a double-bottom pattern on a quarterly period, around Rs 5,350, has supported the parabolic increase of Linde India shares since March 2024 (up over two times in three months).
The market’s perception of Linde India is still favorable despite this significant upswing, and signs point to the trend continuing upward. Strong support for the stock has been established at Rs 6,780, which was earlier a resistance level that has now entered a support level, strengthening the optimistic view even more. Examining the stock’s weekly performance indicates a regular pattern of higher highs and higher lows. According to this tendency, Linde India appears ready to continue growing in the near future,” she continued.
(Linde India Shares Surge Despite Mixed Q4 Results After Dividend Declaration)
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