CapitalMarket.com - Disa India gallops to record high on hefty dividend, blockbuster earning
Hot Pursuit Friday, March 02, 2012 11:05 Hrs IST

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Disa India gallops to record high on hefty dividend, blockbuster earning

Disa India jumped 12.38% to Rs 2,712 at 11:01 IST on BSE, extending Thursday's 20% surge triggered by the company declaring a hefty dividend and unveiling of robust earning.

Meanwhile, the BSE Sensex was up 64.84 points, or 0.37%, to 17,648.81

On BSE, 9,836 shares were traded in the counter compared with the average daily volume of 173 shares over the past one quarter

The stock hit a record high of Rs 2,843 in intraday trade today, 2 March 2012. The stock hit a low of Rs 2,491 so far during the day. The stock had hit a 52-week low of Rs 1,300 on 11 March 2011.

The stock had outperformed the market over the past one month till 29 February 2012, rising 30.61% compared with the Sensex's 3.01% rise. The scrip had also outperformed the market in past one quarter, gaining 30.58% as against 10.90% rise in the Sensex.

The small-cap engineering firm has an equity capital of Rs 1.51 crore. Face value per share is Rs 10.

The Disa India stock was frozen in the 20% upper circuit filter at Rs 2,413.20 on Thursday, 1 March 2012 after market hours on Wednesday, 29 February 2012, the company reported a 45.2% surge in net profit to Rs 12.37 crore on 33.1% rise in net sales to Rs 58.68 crore in Q4 December 2011 over Q4 December 2010.

The company's net profit rose 50.1% to Rs 22.67 crore on 43.1% rise in net sales to Rs 153.99 crore in the year ended December 2011 over the year ended December 2010.

Disa India's board of directors also recommended a dividend of Rs 200 per equity for the year ended 31 December 2011. At the current market price of Rs 2,712 and a dividend of Rs 200 per equity, the dividend yield turns to 7.37%.

Disa India manufactures foundry machinery like moulding plants, sand plants and shot blasting machines.

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