Indag Rubber drops ex-dividend

Indag Rubber lost 2.29% to Rs 731.25 at 12:28 IST on BSE as the stock turned ex-dividend today, 10 October 2014, for interim dividend of Rs 4.50 per share for the year ending 31 March 2015.

Meanwhile, the S&P BSE Sensex was down 198.97 points or 0.75% at 26,438.31.

On BSE, so far 1,622 shares were traded in the counter as against average daily volume of 4,236 shares in the past two weeks.

The stock hit a high of Rs 759.75 and a low of Rs 731.05 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 0.6% based on the closing price of Rs 748.35 on Thursday, 9 October 2014.

Indag Rubber's net profit rose 14.37% to Rs 8.75 crore on 5.29% decline in total income from operations to Rs 58.34 crore in Q2 September 2014 over Q2 September 2013.

Indag Rubber provides re-treading material to its customers ranging from pre-cure tread to curing envelopes.

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