Hero MotoCorp slips ex-dividend

Hero MotoCorp fell 2.45% to Rs 1,977.15 at 9:25 IST on BSE after the stock turned ex-dividend today, 3 September 2013, for a dividend of Rs 60 per share for the year ended 31 March 2013.

Meanwhile, the BSE Sensex was down 16.77 points, or 0.09%, to 18,869.36.

On BSE, 2,639 shares were traded in the counter compared with average volume of 46,237 shares in the past one quarter.

The stock hit a high of Rs 1,985 and a low of Rs 1,951 so far during the day. The stock hit a 52-week high of Rs 2,088 on Monday, 2 September 2013. It hit a 52-week low of Rs 1,434.05 on 15 April 2013.

The stock had outperformed the market over the past one month till 2 September 2013, rising 12.80% compared with the Sensex's 1.45% decline. The scrip had also outperformed the market in past one quarter, rising 17.11% as against Sensex's 4.42% fall.

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

Before turning ex-dividend, the stock offered a dividend yield of 2.96% based on the closing price of Rs 2,026.80 on Monday, 2 September 2011.

Hero MotoCorp's net profit fell 10.9% to Rs 548.58 crore on 1.3% decline in net sales to Rs 6126.84 crore in Q1 June 2013 over Q1 June 2012.

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

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