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Balmer Lawrie & Company slips ex-dividend

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Capital Market
Last Updated : Sep 06 2013 | 11:55 PM IST

Balmer Lawrie & Company fell 5.02% to Rs 320 at 9:25 IST on BSE after the stock turned ex-dividend today, 6 September 2013, for dividend of Rs 17.60 per share for the year ended 31 March 2013.

Meanwhile, the BSE Sensex was up 7.22 points, or 0.04%, to 18,986.98.

On BSE, 149 shares were traded in the counter compared with average volume of 2,895 shares in the past one quarter.

The stock hit a high of Rs 329.95 and a low of Rs 320 so far during the day. The stock hit a 52-week low of Rs 308 on 2 August 2013. The stock hit a 52-week high of Rs 410 on 31 May 2013.

The stock had outperformed the market over the past one month till 5 September 2013, rising 5.31% compared with the Sensex's 1.06% decline. The scrip had, however, underperformed the market in past one quarter, sliding 10% as against Sensex's 3.01% fall.

The small-cap company has an equity capital of Rs 28.50 crore. Face value per share is Rs 10.

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Before turning ex-dividend, the stock offered a dividend yield of 5.22% based on the closing price of Rs 336.90 on Thursday, 5 September 2013.

Net profit of Balmer Lawrie & Company declined 24.11% to Rs 34.63 crore on 3.1% rise in net sales to Rs 679.67 crore in Q1 June 2013 over Q1 June 2012.

Balmer Lawrie & Company has eight strategic business units - industrial packaging, greases & lubricants, performance chemicals, tours & travel, logistics infrastructure, logistics services, tea and refinery & oilfield services, with offices spread across the country and abroad. Over the years, the company has also grown inorganically through various joint ventures.

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First Published: Sep 06 2013 | 9:27 AM IST

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