SRF drops ex-dividend

capital market | Mumbai |

SRF lost 1.74% to Rs 290.20 at 10:43 IST on BSE after the stock turned ex-dividend today, 22 November 2011, for interim dividend of Rs 7 per share for the year ending March 2012.

Meanwhile, the BSE Sensex was up 188.79 points, or 1.18% to 16,134.89.

On BSE, 5,589 shares were traded in the counter as against average daily volume of 14,276 shares in the past one quarter.

The stock hit a high of Rs 293.10 and a low of Rs 282 so far during the day. The stock had hit a 52-week high of Rs 379.80 on 24 November 2010. The stock had hit a 52-week low of Rs 270.05 on 23 June 2011.

The mid-cap stock had outperformed the market over the past one month till 21 November 2011, declining 1.53% compared with the Sensex's 5% fall. The scrip had also outperformed the market in past one quarter, gaining 0.94% as against 1.21% decline in the Sensex.

SRF has equity capital of Rs 59.41 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 2.37% based on closing price of Rs 295.35 on Monday, 21 November 2011.

SRF's net profit fell 11.8% to Rs 107.04 crore on 30.3% growth in net sales to Rs 909.23 crore in Q2 September 2011 over Q2 September 2010.

SRF is a multi-business entity engaged in the manufacture of chemical based industrial intermediates.

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