KSB Pumps Bonus Issue
KSB Pumps jumped 7.58% to Rs 479 at 9:49 IST on BSE, after the company’s board approved a liberal 1:1 bonus issue. The board approved the bonus issue at the time of announcing Q4 December 2010 results after market hours on Thursday, 24 February 2011.
The small-cap stock had underperformed the market over the past one month till 24 February 2011, declining 9.96% compared with the Sensex’s 7.93% fall. The stock had also underperformed the market in past one quarter, falling 10.24% as against Sensex’s decline of 9.39%. The company has an equity capital of Rs 17.40 crore. Face value per share is Rs 10.
KSB Pumps’ net profit fell 30.68% to Rs 12 crore on 13.06% rise in net sales to Rs 173.07 crore in Q4 December 2010 over Q4 December 2009.
At the time of announcing results, the board of directors of the company recommended a final dividend of Rs 8 per share (180%) for the year ended December 2010.
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