Thirumalai Chemicals surges after board declares Rs 6 per share interim dividend

The stock moved higher by 9% to Rs 174 on the BSE.

Shares of Thirumalai Chemicals have moved higher by 9% to Rs 174 on the BSE after the company announced interim dividend of Rs 6 per share for the current financial year.

“The board of directors of the company at its meeting held on March 11, 2016, have declared the 2nd interim dividend @ Rs 6 per equity share having a face value of Rs 10 each, for the financial year ending March 31, 2016,” Thirumalai Chemicals said in a statement.

The dividend amount will be paid / dispatched to the eligible shareholders on or before March 29, 2016, it added.

The company had paid a first interim dividend of Rs 4 per share in November last year. It paid total dividend of Rs 4 per share for the entire previous financial year 2014-15.

Thirumalai Chemicals had reported a consolidated net profit of Rs 8.6 crore for the first nine months ended December 2015 against net loss of Rs 11.06 crore in the same period last year.

Thus far in March, the stock zoomed 34% from Rs 132 as compared to 7% rise in the S&P BSE Sensex.

At 12:52 PM, the stock was up 6% at Rs 169 on the BSE. The trading volumes on the counter jumped multiple folds with a combined 116,962 shares changed hands against an average sub 25,000 shares that were traded daily in past two weeks on the BSE and NSE.