Aster DM Healthcare shares jump 14%, hit fresh record high on special dividend announcement

The special dividend will be paid within 30 days from the date of the declaration.
The company's board has decided not to declare an interim dividend for the financial year 2023-24 (FY24). However, it may consider the declaration of final dividend at the board meeting considering the approval of audited financial statements for FY24, the company said.

At 10:52 am, the stock was trading 7.3% higher at Rs 523.7 on BSE. Additionally, it has delivered multibagger returns to its investors, rallying 110% in the past year and over 175% in the last two years.

As per Trendlyne data, the average target price of the stock is Rs 486, a downside of 7% from the current market prices. The consensus recommendation from 5 analysts for the stock is a 'Buy'.

In technical terms, the relative strength index (RSI) of the stock is currently at 66, signaling it's neither trading in the overbought nor in the oversold territory. Additionally, the MACD is at 1.1, which is above its center and signal line, this is a bullish indicator.

Aster DM Healthcare stock stood higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).

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