Sasken Communication Technologies rose 1.42% to Rs 414.40 at 13:45 IST on BSE after the company's board at its meeting held today, 17 March 2016, declared a special dividend of Rs 25 per share for the year ending 31 March 2016.
The announcement was made during market hours today, 17 March 2016.Meanwhile, the S&P BSE Sensex was up 195.17 points or 0.79% at 24,877.65.
On BSE, so far 3.16 lakh shares were traded in the counter as against average daily volume of 27,033 shares in the past one quarter. The stock was highly volatile. The stock rose as much as 3.76% at the day's high of Rs 424 so far during the day. The stock lost as much as 5.48% at the day's low of Rs 386.20 so far during the day. The stock had hit a 52-week high of Rs 431 on 15 March 2016. The stock had hit a 52-week low of Rs 176.20 on 25 March 2015. The stock had outperformed the market over the past one month till 16 March 2016, surging 63.9% compared with Sensex's 6.43% rise. The scrip had also outperformed the market in past one quarter, gaining 11.18% as against Sensex's 3.18% fall.
The small-cap company has equity capital of Rs 17.72 crore. Face value per share is Rs 10.
Sasken Communication Technologies' board of directors declared interim dividend of Rs 4 per share and a special dividend of Rs 25 per share for the year ending 31 March 2016. The dividend yield works out to 7.09% based on the stock's closing price of Rs 408.60 on BSE yesterday, 16 March 2016.
Sasken Communication Technologies' consolidated net profit rose 6.63% to Rs 11.25 crore on 1.22% decline in net sales to Rs 126.25 crore in Q3 December 2015 over Q2 September 2015.
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Sasken is a leader in providing engineering R&D and productized IT services to global tier I customers in the communications & devices, retail, insurance and independent software space.
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