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IDFC drops ex-dividend

Capital Market/ 09:53 , Jun 28, 2012

Infrastructure Development Finance Company fell 1.52% to Rs 133 at 9:51 IST on BSE after the stock turned ex-dividend today, 28 June 2012, for dividend of Rs 2.30 per share for the year ended March 2012.

Meanwhile, the BSE Sensex was up 36.68 points or 0.22% to 17,004.44.

On BSE, 84,000 shares were traded in the counter as against average daily volume of 9.03 lakh shares in the past one quarter.

The stock hit a high of Rs 134 and a low of Rs 132.20 so far during the day. The stock had hit a 52-week low of Rs 90.25 on 2 January 2012. The stock had hit a 52-week high of Rs 160.80 on 17 February 2012.

The stock had outperformed the market over the past one month till 27 June 2012, surging 8.13% compared with the Sensex's 4.62% rise. The scrip had also outperformed the market in past one quarter, rising 3.76% as against the Sensex's 1.68% fall.

The large-cap lender focused on the infrastructure sector has an equity capital of Rs 1513.32 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.7% based on the closing price of Rs 135.05 on Wednesday, 27 June 2012.

Infrastructure Development Finance Company's (IDFC) consolidated net profit rose 16.8% to Rs 334.83 crore on 31.7% growth in total income to Rs 1721.11 crore in Q4 March 2012 over Q4 March 2011.

IDFC provides infrastructure-financing services. It provides financing products and fee based services to infrastructure projects. The company also offers asset management services through IDFC Mutual Fund.

 



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