Religare MF declares 20% dividend in Religare Contra Fund

Religare Mutual Fund has announced 20% dividend under the dividend option of Religare Contra Fund (Rs. 2/- per unit on the face value of Rs. 10). The record date for dividend is March 12, 2010.

All investors under the dividend option, whose names appear on the register of unit holders as on March 12, 2010 would be eligible for dividend.

Religare Contra Fund is an open ended equity scheme which invests in fundamentally sound companies, which are currently out-of-favour with the overall market but at the same time have unrecognized value. Contrarian approach towards investment is based on the premise of identifying these out-of-favour stocks and move away from the herd mentality, looking for that first mover advantage in these scrips, incase of a turnaround. It involves investing in stocks, which are currently trading at a bargain, as opposed to growth/momentum led approach to stock picking.

The Religare Enterprises stock was trading at Rs.371.05, down by Rs.3.45 or 0.92%. The stock hit an intraday high of Rs.379 and low of Rs.369.

The total traded quantity was 32648 compared to 2 week average of 38283.

Source : Equity Bulls

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