Ex-dividend status hits ICICI Bank, ONGC

DALAL STREET SPIKES

ICICI Bank and ONGC ended negative on turning ex-dividend on the bourses. ICICI Bank stock was down 3.16 per cent to Rs 262.15 on turning ex-dividend form Thursday.

ICICI Bank had declared a dividend of 75 per cent i.e. Rs 7.50 per share for financial year 2004. More than 1.4 lakh shares were traded at this counter on the BSE.

Similarly, ONGC stock ended 1.30 per cent lower to Rs 705.25. The company had declared a final dividend of Rs 10 per share for financial year 2004. More than 4.5 lakh shares changed hands at the ONGC counter in Thursday's trading.

Analysts, however, said the oil sector stock may bounce back with the international crude prices cooling off in the past few days. The company said that it was evaluating an offer to invest in exploration and development of oilfields in Venezuela, the world's No 5 oil exporter.