VST Industries gains on huge dividend payout

The board announced a huge dividend of Rs 70/- per equity shares of face value of Rs 10/- each

Shares of VST Industries were up 5% at Rs 1,673 after the board at its meeting held on April 21, 2015 announced a huge dividend of Rs 70/- per equity shares of face value of Rs 10/- each for the year 2014-15.

Meanwhile, the company reported nearly 22% decline in net profit at Rs 41 crore during the quarter ended March 2015 compared with Rs 52 crore in the same quarter last year on the back of higher material costs.

However, total income for the quarter was higher at Rs 219 crore compared with Rs 189 crore in the same quarter last year.

The stock opened at Rs 1,560 and touched a high of Rs 1,675. At 11AM, over 8,600 shares were traded on the stock exchanges.