Rane Madras surged 9.83% to Rs 65.90 at 14.29 IST on BSE after company declared an interim dividend of Rs 6 per share for the year ending
The dividend yield based on the current market price of Rs 65.90, works out 9.1%. Dividend is tax free in the hands of shareholders even as companies are required to pay a dividend distribution tax.
The company made the announcement of the dividend during trading hours today,
The scrip had touched a high of Rs 66.45 and a low of Rs 56 so far during the day. The stock had hit a 52-week high of Rs 112.95 on
The small-cap auto ancillary has an equity capital of Rs 10.16 crore. Face value per share is Rs 10.
At the current price of Rs 65.90, the scrip trades at a PE multiple of 0.42, based on Q3 December 2007 annualised EPS of Rs 154.45.
The net profit of Rane Madras rose 1194.7% to Rs 39.23 crore on 6.4% rise in sales to Rs 89.91 crore in Q3 December 2007 over Q3 December 2006.
Rane Madras manufactures auto components for two-wheelers, cars, tractors and large commercial vehicles.
No comments:
Post a Comment