Mindtree has rallied nearly 5% at Rs 1,445 on the BSE after its board recommended the issue of bonus shares in the ratio of one equity share for every equity share held.
The company’s board has recommended an interim dividend of 50% (Rs 5 per equity share of par value Rs 10 each) for the quarter ended March 31, 2014. It has also recommended a final dividend of 50% for FY2014 and a special dividend of 50% to celebrate the completion of 15 years in business.
Meanwhile, the mid-tier IT company has posted a healthy 24% growth in consolidated net profit to Rs 98 crore for the quarter ended March 2014 (Q4) and expressed confidence that it would beat Nasscom’s industry growth forecast for this fiscal on the back of strong deal pipeline. The company had reported profit of Rs 79 crore in the same quarter last fiscal.
Its consolidated revenue grew by 35% to Rs 824 crore in Q4 FY2014 from Rs 612 crore in the year-ago fiscal.
The stock opened at Rs 1,420 and touched a high of Rs 1,455 on the BSE. A combined around 50,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
The company’s board has recommended an interim dividend of 50% (Rs 5 per equity share of par value Rs 10 each) for the quarter ended March 31, 2014. It has also recommended a final dividend of 50% for FY2014 and a special dividend of 50% to celebrate the completion of 15 years in business.
Meanwhile, the mid-tier IT company has posted a healthy 24% growth in consolidated net profit to Rs 98 crore for the quarter ended March 2014 (Q4) and expressed confidence that it would beat Nasscom’s industry growth forecast for this fiscal on the back of strong deal pipeline. The company had reported profit of Rs 79 crore in the same quarter last fiscal.
Its consolidated revenue grew by 35% to Rs 824 crore in Q4 FY2014 from Rs 612 crore in the year-ago fiscal.
The stock opened at Rs 1,420 and touched a high of Rs 1,455 on the BSE. A combined around 50,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
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