Disa India hits 20% upper circuit on dividend bounty

Disa India was locked in 20% upper circuit at Rs 402 to Rs 2,413 after the board of directors of the company recommended a dividend of Rs 200/- per equity share of Rs 10/- each (2000%) for the financial year ended December 31, 2011.

Meanwhile, the company has reported 50% year-on-year growth in net profit at Rs 22.67 crore, on back of 43% jump in net sales at Rs 154 crore for FY11.

Around 5,000 shares have changed hands on the counter in morning deals and there are pending buy orders for 3,500 shares on the Bombay Stock Exchange.