Sona Koyo Board recommends 35% dividend

Sona Koyo Steering Systems Ltd has announced that the Board of Directors of the Company at its meeting held on April 25, 2007, inter alia, has recommended the dividend for the year ended March 31, 2007 at the rate of 35% on 9,69,47,235 nos. of Equity Shares of Rs 2/- each (post bonus issue of 1:1) and which also includes 46,16,535 nos. of Equity Shares of Rs 2/ each, on the assumption that the warrant holders will exercise their option for conversion of fully convertible warrants which is due in the month of April, 2007.

The stock was trading at Rs.51, up by Rs.2.40 or 4.94%. The stock hit an intraday high of Rs.51 and low of Rs.48.70. The total traded quantity was 92715 compared to 2 week average of 40002. The stock was struck at the upper level of circuit limit with pending buy orders for 45106 shares.

Source : Equity Bulls

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