Piramal Enterprises slumps ex-dividend

Piramal Enterprises fell 8.50% to Rs 640.30 at 11:55 IST on BSE after the stock turned ex-dividend today, 15 July 2014, for dividend of Rs 52.50 per share for the year ending March 2014.

Meanwhile, the BSE Sensex was up 118.98 points, or 0.48%, to 25,125.96.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 15,234 shares in the past one quarter.

The stock hit a high of Rs 652.95 and a low of Rs 637.95 so far during the day. The stock hit a record high of Rs 791 on 3 July 2014. The stock hit a 52-week low of Rs 482.65 on 26 November 2013.

The stock had outperformed the market over the past one month till 14 July 2014, rising 0.65% compared with 0.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.35% as against Sensex's 10.51% rise.

The large-cap company has an equity capital of Rs 34.51 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 7.50% based on the closing price of Rs 699.80 on Monday, 14 July 2014.

Piramal Enterprises reported a consolidated net loss of Rs 311.35 crore in Q4 March 2014, higher than net loss of Rs 200.41 crore in Q4 March 2013. Net sales rose 19.8% to Rs 1110.38 crore in Q4 March 2014 over Q4 March 2013.

Piramal Enterprises is one of India's largest diversified companies, with a presence in pharmaceuticals, financial services and healthcare information management.

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