 "KEI Industries falls 6% as stock trades ex-dividend date today; details")
Shares of cable and wire products company KEI Industries fell 6.21 per cent to an intraday low of Rs 3,985 on the BSE during Monday's intraday session, January 27, 2025. The fall in the company's share price follows its announcement of dividend rewards for shareholders. KEI Industries, in a regulatory filing, informed the bourses that its board approved the payment of an interim dividend of Rs 4 per equity share with a face value of Rs 2 each for the financial year 2024-25.
Notably, KEI Industries' shares turned ex-date today for the said corporate announcement, as per data available on the exchanges.
KEI Industries boasts a rich history of paying dividends to its shareholders. BSE data reflects that the company has paid interim dividends of Rs 2 in 2021, Rs 2.50 in 2022, Rs 3 in 2023, and Rs 3.50 in 2024.
At the current market price, KEI Industries' dividend yield stands at 0.10 per cent.
KEI Industries is a manufacturer of wire and cable solutions. The company has five manufacturing facilities in India and supplies products to various sectors. KEI's product portfolio includes low-tension cables, high-tension cables, and stainless steel wires. The company provides EPC solutions and has a pan-India retail presence with exports to over 50 countries. KEI operates its business under three segments: Retail, Institutional, and Exports.
KEI Industries enjoys a market capitalisation of Rs 38,329.49 crore on the BSE as of January 27, 2025. The company is a constituent of the BSE 500 Index.
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The cable maker's shares have dropped 7 per cent in the last six months, while they have advanced 25 per cent in the last one year.
KEI Industries shares scaled their 52-week high of Rs 5,040.40 on the BSE on January 14, 2024, while they hit their 52-week low of Rs 2,883.60 on March 14, 2024.
At around 2:35 PM, KEI Industries shares were quoted trading at Rs 3,999, down 5.89 percent from their previous close of Rs 4,249.30 on the BSE. A combined total of nearly 0.26 million shares of KEI Industries, estimated to be worth around Rs 103 crore, exchanged hands on the NSE and BSE today.
Meanwhile, the benchmark NSE Nifty50 and BSE Sensex were trading lower on Monday. The 30-share Sensex was seen around 75,321 levels, down 870 points, while the Nifty50 was around 22,803, down 1.35 per cent.