GAIL (India) drops ex-dividend

GAIL (India) lost 1.72% to Rs 297.45 at 9:23 IST on BSE as the stock turned ex-dividend today, 5 September 2013, for a final dividend of Rs 5.60 per share for the year ended 31 March 2013.

Meanwhile, the S&P BSE Sensex was up 505.13 points or 2.72% at 19,072.68.

On BSE, 1,626 shares were traded in the counter as against average daily volume of 76,190 shares in the past one quarter.

The stock hit a high of Rs 304 and a low of Rs 294 so far during the day. The stock had hit a 52-week low of Rs 273 on 28 August 2013. The stock had hit a 52-week high of Rs 396 on 5 October 2012.

The stock had outperformed the market over the past one month till 4 September 2013, sliding 0.64% compared with the Sensex's 3.11% fall. The scrip had also outperformed the market in past one quarter, declining 2.68% as against Sensex's 5% fall.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.85% based on the closing price of Rs 302.65 on Wednesday, 5 September 2013.

GAIL (India)'s net profit declined 28.7% to Rs 808.17 crore on 15.9% growth in net sales to Rs 12855.64 crore in Q1 June 2013 over Q1 June 2012.

GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 57.34% stake in GAIL (India) (as per the shareholding pattern as on 30 June 2013).

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