Redington (India) drops to 52-week low

Redington (India) lost 5.24% to Rs 55.20 at 13:06 IST on BSE as the stock turned ex-dividend today, 24 July 2013, for dividend of 40 paise per share for the year ended 31 March 2013.

Meanwhile, the S&P BSE Sensex was down 232.41 points or 1.14% at 20,069.72.

On BSE, 2,353 shares were traded in the counter as against average daily volume of 21,088 shares in the past one quarter.

The stock hit a low of Rs 52.45 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 58.20 so far during the day. The stock had hit a 52-week high of Rs 92.80 on 18 December 2012.

The stock had underperformed the market over the past one month till 23 July 2013, sliding 20.96% compared with the Sensex's 8.14% jump. The scrip had also underperformed the market in past one quarter, declining 25.22% as against Sensex's 5.85% rise.

The company has equity capital of Rs 79.86 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 0.68% based on the closing price of Rs 58.25 on Tuesday, 23 July 2013.

Redington (India)'s consolidated net profit rose 2.7% to Rs 104.83 crore on 24% growth in net sales to Rs 6807.73 crore in Q4 March 2013 over Q4 March 2012.

Redington is the largest supply chain solution provider in emerging markets. As a group, Redington is present in India, Middle East,Africa, Turkey, Srilanka, Bangladesh and CIS countries.

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