Visaka Industries declines ex-dividend

Visaka Industries lost 1.3% to Rs 475.40 at 13:50 IST on BSE on turning ex-dividend today, 14 June 2017, for dividend of Rs 6 per share for the year ended 31 March 2017.

Meanwhile, the S&P BSE Sensex was up 61.87 points or 0.2% at 31,174.89. The S&P BSE Small-Cap index rose 46.53 points or 0.3% at 15,564.46.

On the BSE, 6,178 shares were traded on the counter so far as against average daily volumes of 47,000 shares in the past two weeks. The stock had hit a high of Rs 480 and a low of Rs 470 so far during the day. The stock had hit a record high of Rs 489.15 yesterday, 13 June 2017 and a 52-week low of Rs 138.40 on 24 June 2016.

Before turning ex-dividend, the stock offered a dividend yield of 1.24% based on the closing price of Rs 481.65 yesterday, 13 June 2017.

Visaka Industries' net profit rose 12% to Rs 10 crore on 7.7% decline in net sales to Rs 252.86 crore in Q4 March 2017 over Q4 March 2016.

Visaka Industries is engaged in the manufacture and sale of cement asbestos sheets, fiber cement sheets (V-Boards), and panels.

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