Tata Steel fell 0.78% to Rs 497.05 at 9:20 IST on BSE on turning ex-dividend today, 14 July 2014, for dividend of Rs 10 per share for the year ended 31 March 2014.
Meanwhile, the BSE Sensex was down 50.11 points, or 0.20%, to 24,974.24.
On BSE, so far 39,000 shares were traded in the counter, compared with an average volume of 9.61 lakh shares in the past one quarter.
The stock hit a high of Rs 498.90 and a low of Rs 493.65 so far during the day. The stock hit a 52-week high of Rs 578.60 on 9 June 2014. The stock hit a 52-week low of Rs 195.40 on 7 August 2013.
The stock had underperformed the market over the past one month till 11 July 2014, falling 8.79% compared with 1.76% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 19.25% as against Sensex's 10.59% rise.
The large-cap company has an equity capital of Rs 971.21 crore. Face value per share is Rs 10.
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Before turning ex-dividend, the stock offered a dividend yield of 2% based on the closing price of Rs 500.95 on Friday, 11 July 2014.
On a consolidated basis, Tata Steel reported a net profit of Rs 1035.87 crore in Q4 March 2014 as against net loss of Rs 6528.51 crore in Q4 March 2013. Total income from operations rose 22.44% to Rs 42428.05 crore in Q4 March 2014 over Q4 March 2013.
Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum. It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
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