Indo National declined 2.95% to Rs 1,070 at 10:31 IST on BSE after the stock turned ex-dividend for dividend of Rs 25 per share for the year ended 31 March 2015.
Meanwhile, the BSE Sensex was down 87.72 points, or 0.34%, to 25,768.98
On BSE, so far 2,341 shares were traded in the counter as against an average daily volume of 8,564 shares in the past one quarter.
The stock hit a high of Rs 1,081 and a low of Rs 1,061 so far during the day. The stock hit a record high of Rs 1,447 on 11 August 2015. The stock hit a 52-week low of Rs 586 on 16 October 2014.
The stock had underperformed the market over the past one month till 14 September 2015, falling 12.08% compared with 7.88% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 63.09% as against Sensex's 2.15% decline.
The company has an equity capital of Rs 3.75 crore. Face value per share is Rs 10.
Ahead of turning ex-dividend, the Indo National stock offered dividend yield of 2.26% based on the scrip's closing price of Rs 1,102.50 on BSE yesterday, 14 September 2015.
Indo National reported 8.6% rise in net profit to Rs 6.54 crore on 5.3% rise in total income to Rs 86.73 crore in Q1 June 2015 over Q1 June 2014.
Indo National (formerly known as Nippo Batteries Company) deals with various ranges of products like batteries, compact fluorescent lamp, power station, torches and emergency power.
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