Tata Global Beverages fell 0.77% to Rs 129 at 9:16 IST on BSE after the stock turned ex-dividend today, 9 August 2012, for dividend of Rs 2.15 per share for the year ended 31 March 2012.
Meanwhile, the BSE Sensex was up 91.67 points or 0.52% to 17,692.23.
On BSE, 10,000 shares were traded in the counter as against average daily volume of 3.15 lakh shares in the past one quarter.
The stock hit a high of Rs 129.40 and a low of Rs 128.35 so far during the day. The stock had hit a 52-week high of Rs 132.30 on Wednesday, 8 August 2012. The stock had hit a 52-week low of Rs 80 on 23 November 2011.
The stock had outperformed the market over the past one month till 8 August 2012, surging 10.69% compared with the Sensex's 0.45% rise. The scrip had also outperformed the market in past one quarter, jumping 15.04% as against Sensex's 6.37% rise.
The mid-cap branded packaged tea maker has equity capital of Rs 61.84 crore. Face value per share is Re 1.
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Before turning ex-dividend, the stock offered a dividend yield of 1.65% based on the closing price of Rs 130 on Wednesday, 8 August 2012.
Tata Global Beverages' consolidated net profit fell 51.7% to Rs 77.69 crore on 17.8% growth in net sales to Rs 1714.88 crore in Q1 June 2012 over Q1 June 2011.
Tata Global Beverages is a global beverage business and the world's second largest tea company. The company has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Tata Water Plus and Tata Gluco+, Good Earth tea, Grand Coffee and Eight O'clock coffee.
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