/ NRB Bearing Approves Interim Dividend Of Rs 1.4 Per Share ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 13 February 2017

NRB Bearing Limited has received approval for the issuance of an interim dividend at their board meeting held on February 13, 2017.

Declaration of interim dividend for the Financial Year 2016-2017 stands at Rs 1.40 per equity share of Rs 2 each, payable to members. The record date for the interim dividend has been fixed at February 23, 2017.

The record date is the cut-off date established by a company to determine which shareholders are eligible to receive a dividend or distribution. The company recently posted net profit of Rs 7.64 cr in its standalone unaudited financial results for the quarter ended on December 31, 2016.

NRB Bearings Ltd is currently trading at Rs 113, down by Rs 1.6 or 1.4% from its previous closing of Rs 114.6 on the BSE. The scrip opened at Rs 115.9 and has touched a high and low of Rs 116 and Rs 112.4 respectively. So far 33021(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1110.47 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 141 on 23-Sep-2016 and a 52 week low of Rs 103 on 01-Feb-2017. Last one week high and low of the scrip stood at Rs 116 and Rs 105.5 respectively.

The promoters holding in the company stood at 54.66 % while Institutions and Non-Institutions held 34.13 % and 11.21 % respectively. The stock is currently trading above its 200 DMA.

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