Kirloskar Oil Engines drops 3% as stock trades ex-dividend date today

Shares of combustion engine maker Kirloskar Oil Engines dropped 3.03 per cent to today’s low of Rs 576.25 on the National Stock Exchange (NSE) during intra-day trading on Friday, February 21, 2025. The fall in the Kirloskar Oil Engines share price follows the company's announcement of its interim dividend rewards for shareholders.  Notably, the company’s shares are trading ex-dividend today, as it has declared an interim dividend of Rs 2.50 (125 per cent) per equity share of Rs 2 each for the financial year 2024-25. "The record date to determine the list of eligible members for the payment of the interim dividend for the financial year 2024-25 is fixed as February 21, 2025," the company informed the exchanges via regulatory filing.

 

 

Kirloskar Oil Engines said the interim dividend payment shall be made on or before March 12, 2025.

 

At the current market price, Kirloskar Oil Engines has a dividend yield of 1.03 per cent.

 

Kirloskar Oil Engines is primarily engaged in manufacturing internal combustion engines, farm equipment, and generator sets with a sizable presence in international markets. It also manufactures world-class engines for construction equipment. The company specializes in manufacturing air-cooled and liquid-cooled engines for generator sets across a wide range of power outputs (2kVA to 3000 kVA).

 

The company enjoys a market capitalisation of Rs 8,552.21 crore on the NSE and is a constituent of the Nifty 500 index.

 

Kirloskar Oil Engines shares have dropped around 42 per cent year-to-date. In comparison, the benchmark Nifty50 has fallen by around 4 per cent during the same period.

 

Kirloskar Oil Engines shares reached their 52-week high of Rs 1,450 per share on the NSE on July 2, 2024, while they fell to their 52-week low of Rs 576.25 per share on February 21, 2025.

 

At 12:14 PM on Friday, Kirloskar Oil Engines shares were trading at Rs 591.15 apiece, down 0.11 per cent from the previous close of Rs 594.30 on the NSE. A combined total of nearly 1.38 million equity shares of Kirloskar Oil Engines, estimated to be worth around Rs 82 crore, have exchanged hands on the BSE and NSE today.

 

Meanwhile, the benchmark equity indices were trading in negative territory on Friday. The BSE Sensex was down by 453 points at 75,282 levels, while the Nifty 50 traded 0.58 per cent lower at 22,780 levels.