Sicagen India recommends dividend of 60 paise per share; stock surges above 17%

Sicagen India surged above 17% in Thursday’s trading session on BSE.

May 18, 2017 05:05 IST India Infoline News Service

Examining Profits
Sicagen India surged above 17% in Thursday’s trading session on BSE. It is trading at Rs 44.55 per share, up by 13.6% at 10:48 hours IST.
 
The stock also witnessed a spurt in the volume by more than 1.36 times. It hit a high of Rs 46.35 and a low of Rs 42.20 so far.
 
The company on Wednesday reported a consolidated net profit of Rs 6.04 crore for the quarter ended March 31, 2017, an increase of 120.44%, as against Rs 2.74 crores for the same quarter in the previous year, as per BSE filing.
 
The board of directors of the company at its meeting held on May 17, 2017, has recommended equity dividend at 6% (60 paise per share) for the financial year 2016-17, subject to the approval of shareholders, as per BSE filing.
 
Sicagen India Limited is engaged in trading of building materials, such as steel pipes and fittings, construction and structural steel, stainless steel sheets, pipes and fittings, cables and cement.
 
Stock View:
 
Sicagen India Ltd is currently trading at Rs 44.45, up by Rs 5.25 or 13.39% from its previous closing of Rs 39.2 on the BSE.
 
The scrip opened at Rs 43 and has touched a high and low of Rs 46.35 and Rs 42.2 respectively. So far 866609(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 155.11 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 47.25 on 09-May-2017 and a 52 week low of Rs 17 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 42.9 and Rs 36.5 respectively.
 
The promoters holding in the company stood at 41.91 % while Institutions and Non-Institutions held 13.01 % and 45.07 % respectively.
 
The stock is currently trading above its 50 DMA.

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