Banco Products (India) surged 10.27% to Rs 93.45, extending gains for second straight session after the company announced robust interim dividend.
The stock jumped 12.72% in two trading sessions from its recent closing low of Rs 82.90 as on Monday, 9 March 2020.The board of directors of the company at its meeting held on Wednesday (11 March 2020) declared an interim dividend of Rs 20 per equity share for the financial year ending in March 2020. Record date is on 19 March 2020. The announcement was made after market hours on Wednesday.
At the current market price of Rs 93.45, the stock offers a dividend yield of 21.40% on an interim dividend of Rs 20 per share.
On a consolidated basis, Banco Products (India) reported net profit of Rs 13.32 crore in Q3 December 2019 compared with net loss of Rs 3.70 crore in Q3 December 2018. Net sales fell 6% to Rs 312.71 crore in Q3 December 2019 over Q3 December 2018.
Banco Products (India) is engaged in the manufacturing and selling of radiators. The company manufactures and supplies original equipment (OE) for commercial vehicles, passenger vehicles and industrial products.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
