HDFC, NMDC drop ex-dividend

HDFC and NMDC dropped 1.38% and 1.01% respectively at 10:25 IST on BSE after these stocks turned ex-dividend today, 30 March 2016.

Meanwhile, the S&P BSE Sensex was up 194.18 points or 0.78% at 25,094.64.

HDFC dropped 1.38% to Rs 1,112.10 after the stock turned ex-dividend today, 30 March 2016 for interim dividend of Rs 3 per share for the year ending 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 0.26% based on the closing price of Rs 1,127.70 yesterday, 29 March 2016.

NMDC declined 1.01% to Rs 98.20 after the stock turned ex-dividend today, 30 March 2016 for interim dividend of Rs 1.50 per share for the year ending 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 1.51% based on the closing price of Rs 99.20 yesterday, 29 March 2016.

On consolidated basis, HDFC's net profit rose 11% to Rs 2419 crore on 3% growth in total income to Rs 12306.52 crore in Q3 December 2015 over Q3 December 2014.

NMDC's net profit fell 58.9% to Rs 655.04 crore on 48.5% decline in net sales to Rs 1517.04 crore in Q3 December 2015 over Q3 December 2014.

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