Bombay Dyeing surges nearly 2% as board recommends dividend

Textile sector player, Bombay Dyeing & Mfg Company surged nearly 2% at Rs 83.30 per share on BSE during the morning hours of trade.

The company’s board has recommended a dividend of Rs 0.70 per equity share for the financial year ended March 31, 2017.

The stock on NSE has attracted traded volume of 6,60,737 shares, a traded value of Rs 546.63 lakhs.

On a yearly basis, the stock has outperformed BSE Small-cap index and BSE 500 index.

As per market observers, the company has been maintaining a healthy dividend payout of 32.33%.

The Bombay Dyeing and Manufacturing Company Limited is a holding company engaged in finishing of cotton and blended cotton textiles; manufacturing of bedding, quilts, pillows and sleeping bags; real estate activities, and manufacturing of polyester Staple Fiber (PSF). 

Stock view :-

Bombay Dyeing & Manufacturing Company Ltd is currently trading at Rs 82.65, up by Rs 1.05 or 1.29% from its previous closing of Rs 81.6 on the BSE.

The scrip opened at Rs 82.45 and has touched a high and low of Rs 83.65 and Rs 81.9 respectively. So far 843232(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1685.32 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 92.5 on 26-Apr-2017 and a 52 week low of Rs 41.2 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 90.6 and Rs 80.25 respectively.

The promoters holding in the company stood at 53.68 % while Institutions and Non-Institutions held 10.7 % and 35.6 % respectively.

The stock is currently trading above its 50 DMA.

Bombay Dyeing & Manufacturing Company Ltd :-
BSE 82.45 0.85    (1.04%)
NSE 82.50 0.80    (0.98%)


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