Swaraj Engines slips ex-dividend

Swaraj Engines fell 1.71% to Rs 1,185 at 09:35 IST on BSE after the stock turned ex-dividend today, 7 July 2016, for total dividend of Rs 33 per share for the year ended 31 March 2016.

This includes a special dividend of Rs 18 per share. Before turning ex-dividend, the stock offered a dividend yield of 2.66% based on its closing price of Rs 1,238.65 on the BSE on Tuesday, 5 July 2016.

Meanwhile, the S&P BSE Sensex was up 54.75 points or 0.2% at 27,221.62

On BSE, so far 438 shares were traded in the counter as against average daily volume of 2,196 shares in the past one quarter. The stock hit a high of Rs 1,218 and a low of Rs 1,170 so far during the day. The stock had hit a record high of Rs 1,248 on 5 July 2016. The stock had hit a 52-week low of Rs 762 on 12 February 2016.

The small-cap company has equity capital of Rs 12.42 crore. Face value per share is Rs 10.

Swaraj Engines' net profit rose 41.2% to Rs 11.65 crore on 9.4% growth in net sales to Rs 113.40 crore in Q4 March 2016 over Q4 March 2015.

Swaraj Engines is in the business of supplying engines to the Swaraj division of Mahindra & Mahindra. The company also manufactures hi-tech engine components for SML Isuzu.

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