Dalmia Bharat recommends a final dividend of Rs 2.20 per share : 11 May 2017

Dalmia Bharat
Dalmia Bharat, a leading cement manufacturing company on Wednesday announced its financial results for the year ended March 31, 2017.

The company during a board meeting held on May 10, 2017, reported a profit after tax of Rs 184 crore for the quarter ended March 2017, a jump of 94% as against Rs 95 crore for the same quarter of the previous year.

It also posted a profit after tax of Rs 345 crore for the financial year 2017, an increase of 81% as against Rs 190 crore for the financial year 2016, as per BSE filing.

The board also recommended a final dividend of Rs 2.20/- (110%) per equity share of face value of Rs 2/- per share for the financial year 2016-17, as per BSE filing.

The stock is trading at Rs 2446 per share up by 3.3% at 10:01 AM IST on the BSE. It also hit an intraday high of Rs 2480.75.

Dalmia Bharat Limited operates as a cement manufacturing company. The company’s segments include own manufactured cement, refractory, management services and others.

Stock View:

Dalmia Bharat Ltd is currently trading at Rs 2445.85, up by Rs 77.7 or 3.28% from its previous closing of Rs 2368.15 on the BSE.

The scrip opened at Rs 2420 and has touched a high and low of Rs 2480.75 and Rs 2420 respectively. So far 173486(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 21068.44 crore.

The BSE group ‘B’ stock of face value Rs 2 has touched a 52 week high of Rs 2425 on 10-May-2017 and a 52 week low of Rs 846.35 on 23-May-2016. Last one week high and low of the scrip stood at Rs 2425 and Rs 2178.85 respectively.

The promoters holding in the company stood at 57.76 % while Institutions and Non-Institutions held 13.43 % and 25.26 % respectively.

The stock is currently trading above its 50 DMA.

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