Torrent Pharma drops ex-dividend

Torrent Pharmaceuticals lost 0.96% to Rs 808.55 at 9:17 IST on BSE as the stock turned ex-dividend today, 10 June 2013, for total dividend of Rs 17 per share for the year ended 31 March 2013.

Meanwhile, the S&P BSE Sensex was up 147.90 points or 0.76% at 19,577.13.

On BSE, 1,003 shares were traded in the counter as against average daily volume of 9,728 shares in the past one quarter.

The stock hit a high of Rs 814.95 and a low of Rs 808.55 so far during the day. The stock had hit a record high of Rs 871.80 on 3 June 2013. The stock had hit a 52-week low of Rs 580.80 on 27 June 2012.

The stock had outperformed the market over the past one month till 7 June 2013, surging 20.75% compared with the Sensex's 2.3% fall. The scrip had also outperformed the market in past one quarter, jumping 18.97% as against Sensex's 0.08% gain.

The mid-cap company has equity capital of Rs 42.31 crore. Face value per share is Rs 5.

Before turning ex-dividend, the stock offered a dividend yield of 2.08% based on the closing price of Rs 816.40 on Friday, 7 June 2013.

Torrent Pharmaceuticals reported consolidated net profit of Rs 111 crore in Q4 March 2013, as against net loss of Rs 2 crore in Q4 March 2012. Net sales rose 22.8% to Rs 803 crore in Q4 March 2013 over Q4 March 2012.

Torrent Pharmaceuticals is the flagship company of the Torrent Group. The pharmaceutical firm has focus on the therapeutics areas of diabetology, cardiovascular, central nervous system, gastro-intestinal, anti-infective, pain management and gynecology.

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