Gruh Finance and Rallis India drop ex-dividend

Gruh Finance and Rallis India edged lower at 13:38 IST on BSE as these two stocks turned ex-dividend.

Meanwhile, the S&P BSE Sensex was down 116.98 points or 0.44% at 26,646.48.

Gruh Finance lost 1.77% at Rs 280 on turning ex-dividend today, 10 June 2016, for dividend of Rs 2.30 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.8% based on the closing price of Rs 285.05 on the BSE yesterday, 9 June 2016.

Gruh Finance's net profit rose 18.6% to Rs 87.82 crore on 20.3% growth in total income to Rs 366.91 crore in Q4 March 2016 over Q4 March 2015.

Gruh Finance is engaged in providing loan for purchase and construction of residential houses. Gruh Finance is a subsidiary of housing finance major HDFC, which holds 58.59% stake in the firm (as per the shareholding pattern as on 31 March 2016).

Rallis India fell 1.14% at Rs 213.15 on turning ex-dividend today, 10 June 2016, for final dividend of Rs 2.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.15% based on the closing price of Rs 215.60 on the BSE yesterday, 9 June 2016.

On consolidated basis, Rallis India's net profit rose 51.3% to Rs 32.25 crore on 8.6% growth in net sales to Rs 341.99 crore in Q4 March 2016 over Q4 March 2015.

Rallis India is one of the leading crop care companies in India.

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