GRUH Finance drops ex-dividend

Meanwhile, the S&P BSE Sensex was down 70.98 points or 0.38% at 18,558.17.

On BSE, 2,720 shares were traded in the counter as against average daily volume of 18,559 shares in the past one quarter.

The stock hit a high of Rs 220 and a low of Rs 216.05 so far during the day. The stock had hit a 52-week low of Rs 135.25 on 26 June 2012. The stock had hit a record high of Rs 249.70 on 4 January 2013.

The stock had outperformed the market over the past one month till 25 June 2013, sliding 1.87% compared with the Sensex's 5.46% fall. The scrip had also outperformed the market in past one quarter, surging 8.9% as against Sensex's 0.28% fall.

The mid-cap company has equity capital of Rs 35.88 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 1.13% based on the closing price of Rs 220.20 on Tuesday, 25 June 2013.

GRUH Finance's net profit rose 13.5% to Rs 63.06 crore on 17.2% growth in total income to Rs 194.22 crore in Q4 March 2013 over Q4 March 2012.

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 59.69% stake in the firm (as per the shareholding pattern as on 31 March 2013).

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