Sasken Communication surges as board mulls special dividend

Sasken Communication Technologies jumped 4.69% to Rs 186.55 at 12:08 IST on BSE after the company said its board will meet on 20 January 2014, to consider payment of special dividend.

The announcement was made after market hours on Wednesday, 15 January 2014.

Meanwhile, the S&P BSE Sensex was down 34.53 points or 0.16% at 21,254.96.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 32,210 shares in the past one quarter.

The stock hit a high of Rs 188.30 and a low of Rs 183 so far during the day. The stock had hit a 52-week high of Rs 201.50 on 7 January 2014. The stock had hit a 52-week low of Rs 100.60 on 4 September 2013.

The stock had underperformed the market over the past one month till 15 January 2014, declining 0.39% compared with the Sensex's 2.77% rise. The scrip had, however, outperformed the market in past one quarter, surging 39.98% as against Sensex's 3.61% rise.

The small-cap company has equity capital of Rs 21.47 crore. Face value per share is Rs 10.

Sasken Communication Technologies said it has fixed 25 January 2014 as the record date for the purpose of payment of special dividend.

Sasken Communication Technologies' consolidated net profit galloped 5633.3% to Rs 13.76 crore on 1% growth in net sales to Rs 113.14 crore in Q2 September 2013 over Q2 September 2012.

Sasken is an R&D technology solutions company that helps businesses across the communication and consumer value chain accelerate product development life cycles. Sasken offers a unique combination of R&D consultancy, wireless software products, solutions & services for consumer electronics & network engineering services and works with network OEMs, semiconductor vendors, terminal device OEMs, consumer electronics OEMs and operators across the world.

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