Shares of Strides Arcolab have dipped 58% or Rs 512 at Rs 371 on the NSE after turning ex-dividend today.
The stock opened at Rs 351, also its 52-week low, has seen a combined 630,000 shares changing hands on the counter so far on the NSE and BSE.
The board of directors of the company at its meeting held on December 10, 2013 had declared a special dividend of Rs 500 per equity share of Rs 10 each to the shareholders of the company.
The company has fixed December 20, 2013 as record date for determining the eligibility of shareholders for payment of special dividend.
Earlier this month, Strides completed the sale of its Agila Specialties division to Mylan Inc for a total consideration of up to USD 1.75 billion.
The stock opened at Rs 351, also its 52-week low, has seen a combined 630,000 shares changing hands on the counter so far on the NSE and BSE.
The board of directors of the company at its meeting held on December 10, 2013 had declared a special dividend of Rs 500 per equity share of Rs 10 each to the shareholders of the company.
The company has fixed December 20, 2013 as record date for determining the eligibility of shareholders for payment of special dividend.
Earlier this month, Strides completed the sale of its Agila Specialties division to Mylan Inc for a total consideration of up to USD 1.75 billion.
