Gujarat Industries Power drops ex-dividend

Gujarat Industries Power Company lost 2.8% to Rs 55.50 at 09:42 IST as the stock turned ex-dividend today, 30 August 2013, for a dividend of Rs 2.50 per share for the year ended March 2013.

Meanwhile, the S&P BSE Sensex was up 57.11 points or 0.31% to 18,458.15

On BSE, 304 shares were traded in the counter as against average daily volume of 5,143 shares in the past one quarter.

The stock hit a high of Rs 55.70 and a low of Rs 55 so far during the day. The stock had hit a 52-week low of Rs 54.05 on 6 August 2013. The stock had hit a 52-week high of Rs 82.90 on 2 April 2013.

The stock had underperformed the market over the past one month till 29 August 2013, falling 9.15% compared with the Sensex's 6.08% fall. The scrip had also underperformed the market in past one quarter, sliding 24.17% as against Sensex's 8.67% fall.

The power generation firm has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 4.38% based on the closing price of Rs 57.10 on Thursday, 29 August 2013.

Gujarat Industries Power Company's net profit fell 33.9% to Rs 36.41 crore on 10.8% fall in net sales to Rs 311.08 crore in Q1 June 2013 over Q1 June 2012.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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