Tata Sponge Iron drops ex-dividend

Meanwhile, the S&P BSE Sensex was down 20.79 points or 0.11% at 19,556.60.

On BSE, 498 shares were traded in the counter as against average daily volume of 1,288 shares in the past one quarter.

The stock hit a high of Rs 280 and a low of Rs 277 so far during the day. The stock had hit a 52-week low of Rs 271.30 on 13 June 2013. The stock had hit a 52-week high of Rs 350 on 20 July 2012.

The stock had outperformed the market over the past one month till 1 July 2013, rising 0.26% compared with the Sensex's 0.93% slide. The scrip had, however, underperformed the market in past one quarter, declining 2.67% as against Sensex's 3.78% rise.

The small-cap sponge iron maker has equity capital of Rs 15.40 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 2.79% based on the closing price of Rs 286.50 on Monday, 1 July 2013.

Tata Sponge Iron's net profit declined 36.1% to Rs 9.36 crore on 16.3% growth in net sales to Rs 206.70 crore in Q4 March 2013 over Q4 March 2012.

Tata Sponge Iron manufactures and markets sponge iron.

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