Havells India drops ex-dividend

Havells India lost 0.93% to Rs 479.55 at 12:49 IST on BSE on turning ex-dividend today, 21 June 2017, for final dividend of Rs 3.50 per share for the year ended 31 March 2017.

Meanwhile, the S&P BSE Sensex was down 63.22 points or 0.2% at 31,234.31.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 83,281 shares in the past one quarter. The stock had hit a high of Rs 483.75 and a low of Rs 477.15 so far during the day. The stock had hit a record high of Rs 525.40 on 11 May 2017 and a 52-week low of Rs 303.60 on 21 November 2016.

The stock had underperformed the market over the past one month till 20 June 2017, sliding 0.11% compared with the Sensex's 2.73% rise. The stock had, however, outperformed the market over the past one quarter, advancing 8.48% as against the Sensex's 6.03% rise. The scrip had also outperformed the market over the past one year, gaining 32.91% as against the Sensex's 16.49% rise.

The large-cap company has equity capital of Rs 62.51 crore. Face value per share is Rs 1.

Before turning ex-dividend, the stock offered a dividend yield of 0.72% based on the closing price of Rs 484.05 yesterday, 20 June 2017.

Havells India's net profit fell 74.1% to Rs 94.70 crore on 17.2% growth in net sales to Rs 1710.20 crore in Q4 March 2017 over Q4 March 2016.

Havells India is a fast moving electrical goods (FMEG) manufacturer, producing a wide range of industrial and consumer electrical products.

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