Ingersoll-Rand (India) was locked in 20% upper circuit at Rs 854.25 at 11:18 IST on BSE after the company declared a special dividend of Rs 202 per share as second interim dividend for the financial year ended 31 March 2018.
The record date for the payment of the special dividend is 25 May 2018 and the dividend will be paid on 8 June 2018. The company's board also recommended a final dividend of Rs 3 per share for the financial year ended 31 March 2018. The announcement was made after market hours yesterday, 10 May 2018.
Meanwhile, the S&P BSE Sensex was up 123.11 points, or 0.35% to 35,369.38
On the BSE, 39,000 shares were traded in the counter so far, compared with average daily volumes of 2,321 shares in the past two weeks. The stock opened with an upward gap, surging by the maximum 20% daily circuit and remained locked at the 20% level at Rs 854.25 so far in the day. The stock hit a 52-week high of Rs 927.50 on 10 July 2017. The stock hit a 52-week low of Rs 651.90 on 28 March 2018.
The mid-cap company has equity capital of Rs 31.57 crore. Face value per share is Rs 10.
Ingersoll-Rand (India)'s net profit rose 30.12% to Rs 26.48 crore on 1.64% fall in total income to Rs 154.39 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 10 May 2018.
Ingersoll-Rand (India) is primarily engaged in the business of manufacturing and sale of industrial air compressors of various capacities and related services, and its complete machines and spare parts.
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