 "Welspun India nears record high")
Shares of Welspun India surged by 6% to Rs 951 on the National Stock Exchange (NSE) after the company announced second interim dividend of 60% for the financial year 2015-16.
The stock is currently trading close to its lifetime high of Rs 963 touched on August 4, 2015 in intra-day trade.
Welspun India, engaged in textiles business, has fixed March 22, 2016 as the record date for the purpose of sub-division of equity shares from Rs 10 per share to Re 1 per share and payment of second interim dividend.
“The pre-stock split rate of dividend is Rs 6 per equity share having nominal value of Rs 10 and the post-stock split rate of dividend is Re 0.60 per equity share having nominal value of Re 1,” Welspun India said in a statement.
The dividend shall be paid on the post-stock split face value i.e. Re 0.60 per equity share having nominal value of Re 1. The board had declared 1st interim dividend at the rate of 65% of paid equity share capital, it added.
At 01:59 PM, the stock was up 5% at Rs 943 on the BSE as compared to 0.41% rise in the S&P BSE Sensex. A combined 286,322 shares changed hands on the counter on the BSE and NSE.
The stock is currently trading close to its lifetime high of Rs 963 touched on August 4, 2015 in intra-day trade.
Welspun India, engaged in textiles business, has fixed March 22, 2016 as the record date for the purpose of sub-division of equity shares from Rs 10 per share to Re 1 per share and payment of second interim dividend.
“The pre-stock split rate of dividend is Rs 6 per equity share having nominal value of Rs 10 and the post-stock split rate of dividend is Re 0.60 per equity share having nominal value of Re 1,” Welspun India said in a statement.
The dividend shall be paid on the post-stock split face value i.e. Re 0.60 per equity share having nominal value of Re 1. The board had declared 1st interim dividend at the rate of 65% of paid equity share capital, it added.
At 01:59 PM, the stock was up 5% at Rs 943 on the BSE as compared to 0.41% rise in the S&P BSE Sensex. A combined 286,322 shares changed hands on the counter on the BSE and NSE.