Hero MotoCorp drops ex-dividend

Hero MotoCorp dropped 0.85% to Rs 2,808.70 at 11:05 IST on BSE after the stock turned ex-dividend today, 21 March 2016, for an interim dividend of Rs 40 per share for the year ending 31 March 2016.

Before turning ex-dividend, the stock offered a dividend yield of 1.41% based on the closing price of Rs 2,832.90 on BSE on Friday, 18 March 2016.

Meanwhile, the BSE Sensex was up 165.80 points, or 0.66%, to 25,117.74.

On BSE, so far 4,340 shares were traded in the counter, compared with an average volume of 27,439 shares in the past one quarter. The stock hit high of Rs 2,823.95 and low of Rs 2,801.95 so far during the day. The stock hit a 52-week high of Rs 2857.35 on 2 March 2016. The stock hit a 52-week low of Rs 2,252 on 8 May 2015. The stock had outperformed the market over the past one month till 18 March 2016, rising 8.09% compared with 5.51% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 7.24% as against Sensex's 2.22% fall.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp's net profit rose 36.5% to Rs 795.81 crore on 5.6% increase in net sales to Rs 7174.16 crore in Q3 December 2015 over Q3 December 2014.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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