Premco Global’s stock climbs to a 52-week high

Premco Global Limited has made headlines with its stock surging 10.89%, reaching a 52-week high of ₹637 on the BSE during intraday trading today, on 21 November 2024. The impressive climb is linked to the company’s announcement of a special dividend of ₹39 per share. The ex-dividend date is set for 22 November 2024, drawing significant investor attention.

Special dividend announcement boosts investor confidence

The Board of Directors has approved a special dividend of 390% for the financial year 2024–25. Shareholders on record by 22 November will be eligible, with the payout scheduled on or before 11 December 2024. This high dividend yield has contributed to the growing interest in Premco Global, highlighting the potential of share market investment in dividend-paying companies.

Key metrics of Premco Global’s market performance

As of 21 November, Premco Global’s market capitalisation stood at ₹199.66 crore. The company’s shares have delivered a 52.15% return year-to-date, making it a strong contender for those considering share market investment in the textile sector.

The stock’s 52-week range spans ₹360 to ₹637, showcasing remarkable growth in the past year. At 01:28 PM, the shares were trading at ₹611.85, reflecting a 6.52% increase from the previous close of ₹574.40. Trading volume reached 0.095 million shares worth ₹5.65 crore.

Premco Global’s business overview

Premco Global specialises in manufacturing woven and knit elastic, non-elastic narrow fabric, and jacquard elastic tapes, catering to industries like apparel and underwear production. The company’s consistent focus on innovation and high-quality products has positioned it as a leader in its niche market.

For investors exploring share market investment, Premco Global’s robust performance and attractive dividend yield of 1.59% make it an appealing option.

Invest safely

Premco Global’s impressive stock surge underscores the potential of dividend-paying stocks to deliver strong returns. For those looking to diversify their portfolio, considering companies with stable growth and rewarding shareholders can be a prudent step in share market investment.