Timken India lost 4.71% to Rs 166 at 10:12 IST on BSE as the stock turned ex-dividend today, 20 November 2013, for interim dividend of Rs 6.50 per share for the year ending 31 March 2014.
Meanwhile, the S&P BSE Sensex was down 54.76 points or 0.26% at 20,836.06.
On BSE, 675 shares were traded in the counter as against average daily volume of 29,000 shares in the past two weeks.
The stock hit a high of Rs 168.75 and a low of Rs 163.30 so far during the day.
Before turning ex-dividend, the stock offered a dividend yield of 3.73% based on the closing price of Rs 174.20 on Tuesday, 19 November 2013.
Timken India's net profit declined 0.67% to Rs 13.21 crore on 6.44% growth in total income from operations to Rs 179.11 crore in Q2 September 2013 over Q2 September 2012.
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US-based Timken Company, a major manufacturer and supplier of bearings, alloy steel, power transmission components etc holds 75% in Timken India (as per the shareholding pattern as on 30 September 2013).
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