Elantas Beck India surged 8.85% to Rs 542.95 at 14:21 IST on BSE after the firm at the time of announcement of Q4 December 2013 results said its board has recommended payment of dividend of Rs 55 per share for the year ended 31 December 2013.
The Q4 result was announced after market hours on Wednesday, 26 February 2014. The stock market was closed on Thursday, 27 February 2014, on account of Mahashivratri.
Meanwhile, the S&P BSE Sensex was up 101.18 points or 0.48% at 21,088.17.
On BSE, so far 1.39 lakh shares were traded in the counter as against average daily volume of 5,410 shares in the past one quarter.
The stock hit a high of Rs 549 and a low of Rs 533 so far during the day. The stock had hit a 52-week high of Rs 670 on 28 February 2013. The stock had hit a 52-week low of Rs 356.95 on 11 September 2013.
The stock had underperformed the market over the past one month till 26 February 2014, sliding 0.88 % compared with the Sensex's 0.69% fall. The scrip had, however, outperformed the market in past one quarter, jumping 6.07% as against Sensex's 2.75% rise.
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The small-cap company has equity capital of Rs 7.93 crore. Face value per share is Rs 10.
The proposed dividend of Rs 55 per share for the year ended 31 December 2013 (FY 2013) translates into a dividend yield of 11.02% based on the closing price of Rs 498.80 on Wednesday, 26 February 2014.
Elantas Beck India's net profit rose 5.3% to Rs 6.78 crore on 12.5% growth in net sales to Rs 76.28 crore in Q4 December 2013 over Q4 December 2012.
Elantas Beck India's net profit rose 15.1% to Rs 31.75 crore on 10.9% growth in net sales to Rs 303.12 crore in the year ended FY 2013 over the year ended FY 2012.
Elantas Beck India manufactures a wide range of specialty chemicals for electrical insulation and construction industries.
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