Engineers India slips ex-dividend

Engineers India lost 1.18% to Rs 147 at 14:36 IST on BSE on turning ex-dividend today, 23 March 2017, for interim dividend of Rs 2.50 per share for the year ending 31 March 2017.

Meanwhile, the S&P BSE Sensex was up 98.36 points or 0.34% at 29,266.04. The BSE Mid-Cap index was up 117.82 points or 0.86% at 13,839.27.

On the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 2.38 lakh shares in the past two weeks. The stock had hit a high of Rs 148 and a low of Rs 145.90 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 1.68% based on the closing price of Rs 148.75 yesterday, 22 March 2017.

Net profit of Engineers India rose 25.59% to Rs 84.99 crore on 11.77% decline in net sales to Rs 325.01 crore in Q3 December 2016 over Q3 December 2015.

State-run Engineers India provides engineering consultancy and engineering, procurement and construction (EPC) services. The Government of India holds 58.87% in Engineers India (as per shareholding pattern as on 31 December 2016).

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