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DCM Shriram Ltd declares 2nd Interim dividend of 170%

Posted On: 2018-02-23 10:57:57

The Board of Directors of DCM Shriram Ltd. at its meeting held today has declared 2nd interim dividend of 170% i.e Rs 3.40 per equity share of face value Rs 2/- for financial year 2017-18.

The Chemicals business has provided growth and stability to the group and it will continue to be a key pillar of our overall growth ambitions in the coming years. Under this vision, the company had successfully executed a 500 + Tonnes Per Day (TPD) Chlor Alkali expansion in 2016-17 which is currently running at its full capacity. Further the company is in the process of executing approximately 500 Tonnes Per Day Chlor-Alkali capacity including the 186 Tonnes Per Day expansion approved today at an investment of Rs 113 Crores. The commissioning of these capacities is expected to be completed in multiple phases by April 2019, taking the overall Chlor-Alkali capacity to about 1850 Tonnes Per Day.

In the medium-term the company plans to further expand our chemical business and are studying the possibility of adding approximately 1000 Tonnes Per Day of ChlorAlkali capacity, supported by downstream products to leverage our strength in the business.

Shares of DCM Shriram Limited was last trading in BSE at Rs.570.65 as compared to the previous close of Rs. 546.1. The total number of shares traded during the day was 25191 in over 1043 trades.

The stock hit an intraday high of Rs. 575.3 and intraday low of 541. The net turnover during the day was Rs. 14289152.


Source: Equity Bulls

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