Jindal Steel & Power lost 1.11% to Rs 236 at 9:24 IST on BSE as the stock turned ex-dividend today, 13 September 2013, for dividend of Rs 1.60 per share for the financial year ended 31 March 2013.
Meanwhile, the S&P BSE Sensex was down 64.13 points or 0.32% at 19,717.75.
On BSE, 8,743 shares were traded in the counter compared with average volume of 3.99 lakh shares in the past two weeks.
The stock hit a high of Rs 239.10 and a low of Rs 234.80 so far during the day.
Before turning ex-dividend, the stock offered a dividend yield of 0.67% based on the closing price of Rs 238.65 on Thursday, 12 September 2013.
Jindal Steel & Power's (JSPL) consolidated net profit surged 28.3% to Rs 494.28 crore on 4.1% decline in net sales to Rs 4490.80 crore in Q1 June 2013 over Q1 June 2012.
JSPL is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure.
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