Ingersoll-Rand (India) drops ex-dividend

Ingersoll-Rand (India) dropped 0.97% to Rs 725.60 at 14:30 IST on BSE after the stock turned ex-dividend today, 18 November 2015, for interim dividend of Rs 3 per share for the year ending 31 March 2016.

Meanwhile, the S&P BSE Sensex was down 372.26 points or 1.44% at 25,492.21.

On BSE, so far 497 shares were traded in the counter as against average daily volume of 3,426 shares in the past one quarter.

The stock hit a high of Rs 740 and a low of Rs 725.55 so far during the day. The stock had hit a 52-week low of Rs 722.45 on 10 November 2015. The stock had hit a record high of Rs 1,125 on 15 April 2015.

The stock had underperformed the market over the past one month till 17 November 2015, falling 6.86% compared with Sensex's 4.96% fall. The scrip had also underperformed the market in past one quarter, dropping 16.41% as against Sensex's 7.22% drop.

The mid-cap company has equity capital of Rs 31.57 crore. Face value per share is Rs 10.

Before turning ex-dividend, the shares of Ingersoll-Rand (India) offered dividend yield of 0.4% based on the scrip's closing price of Rs 732.65 on BSE yesterday, 17 November 2015.

Ingersoll-Rand (India)'s net profit fell 8.2% to Rs 17 crore on 5.2% rise in net sales to Rs 173.21 crore in Q2 September 2015 over Q2 September 2014.

Ingersoll-Rand (India) delivers industrial products and solutions to markets such as automotive, process, pharmaceutical, food security, healthcare, mining, defence and other related industries.

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