Esab India slips ex-dividend

Esab India fell 2.15% to Rs 409 at 11:38 IST on BSE as the stock turned ex-dividend today, 18 April 2013, for a final dividend of Rs 7.50 per share for the year ended 31 December 2012.

Meanwhile, the BSE Sensex was up 120.38 points, or 0.64%, to 18,851.54.

On BSE, 79 shares were traded in the counter as against an average daily volume of 779 shares in the past one quarter.

The stock hit a high of Rs 411.95 so far during the day. The stock hit a low of Rs 405 so far during the day, which is equal to its 52-week low of Rs 405 hit on 26 March 2013. The stock had hit a 52-week high of Rs 555 on 17 April 2012.

The stock had underperformed the market over the past one month till 17 April 2013, sliding 5.88% compared with the Sensex's 3.58% fall. The scrip had also underperformed the market in past one quarter, falling 6.52% as against Sensex's 6.18% fall.

The small-cap company has an equity capital of Rs 15.39 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.79% based on the closing price of Rs 418 on Wednesday, 17 April 2013.

Net profit of Esab India rose 19.71% to Rs 10.57 crore on 10.71% decline in net sales to Rs 122.10 crore in Q4 December 2012 over Q4 December 2011.

Esab India is one of the leading suppliers of welding and cutting products in India. The company's products are used in industries like shipbuilding, petrochemical, construction, transport, offshore, energy and repair and maintenance.

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