Binani Industries drops ex-dividend

Binani Industries lost 4% to Rs 84 at 09:22 IST on BSE after the stock turned ex-dividend today, 9 December 2015 for a dividend of Rs 3 per share for the year ended 31 March 2015.

Meanwhile, the S&P BSE Sensex was down 54.94 points or 0.22% at 25,255.39

On BSE, so far 975 shares were traded in the counter as against average daily volume of 9,450 shares in the past one quarter.

The stock hit a high of Rs 85.20 and a low of Rs 84 so far during the day. The stock had hit a 52-week low of Rs 69 on 8 September 2015. The stock had hit a 52-week high of Rs 120.80 on 22 January 2015.

The small-cap company has equity capital of Rs 29.60 crore. Face value per share is Rs 10.

Before turning ex-dividend, the Binani Industries stock offered a dividend yield of 3.42% based on the stock's closing price of Rs 87.50 on BSE yesterday, 8 December 2015.

Binani Industries' reported net loss of Rs 0.24 crore in Q2 September 2015 as compared to net profit of Rs 6.85 crore in Q2 September 2014. Net sales declined 68.1% to Rs 4.85 crore in Q2 September 2015 over Q2 September 2014.

Binani Industries is a multidimensional business conglomerate with sales, manufacturing, and R&D operations spread in Asia, Europe, Middle East and North America. Its diversified businesses deliver products and solutions in the areas of cement, zinc, glass fibre and related composites, energy and industrial infrastructure.

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