Bongaigaon Refinery & Petrochemicals slumped 9.16% to Rs 62.30 at 10:54 IST on BSE after the stock started trading ex-dividend, for a dividend of Rs 5 per share, from today, 20 August 2008.
On 16 May 2008, the company announced a divided of Rs 5 per share or 50% for the year ended March 2008, giving an attractive dividend yield of 7.27% based on yesterday's closing price of Rs 68.80. Dividend is tax free in the hands of shareholders.
The stock hit a high of Rs 65.50 and a low of Rs 61.60 so far during the day. The stock had a 52-week high of Rs 116.80 on 16 November 2007 and the stock hit a 52-week low of Rs 44.60 on 22 January 2008.
The company’s current equity is Rs 199.82 crore. Face value per share is Rs 10.
The current price of Rs 62.30 discounts its Q1 June 2008 annualised EPS of Rs 18.16, by a PE multiple of 3.43.
The company posted 37.90% rise in net profit to Rs 90.71 crore on 62.20% rise in net sales to Rs 2180.87 crore in Q1 June 2008 over Q1 June 2007.
Bongaigaon Refinery & Petrochemicals (BRPL) operates a refinery with a petrochemical complex. Indian Oil Corporation holds 74.46% stake in the company (as at end June 2008).
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