Esab India in focus, surges 10% on interim dividend of Rs 70 per share

The company said in the near term, the demand for the Company's product will be impacted which will have some impact on the results of the Company in the short-term.

Shares of Esab India moved higher by 10 per cent to Rs 1,198 on the BSE on Thursday after the company announced an interim dividend of Rs 70 per share for its shareholders.

“The board of directors of the Company at its meeting held today i.e, 28 May, 2020 has declared an interim dividend of Rs 70 per equity share of Rs 10 each (700 per cent) for the year ended 31 March, 2020 resulting in an outflow of Rs 107.75 crore (subject to deduction of tax at the source where applicable),” Esab India said in an exchange filing.

The said interim