Today Kwality diary India hits the lower circuit by losing 20%. Kwality was trading 8 points lower from the previous day’s close till 2.09 PM, then there was a sudden fall to drift towards 114.60 levels by 2.18 PM to get lock at lower circuit.
There was no announcements made by kwality to the exchanges and also no major news which led to this fall. During falling market stocks tend to hit lower circuit but there will be some news attached to it.
Usually management will come out and address the media to clarify the reasons for the fall, we may expect the same from kwality management soon.
Kwality opened the trading day at Rs 141.20 which is also the day’s high by losing 2.05 points from the previous day close and then drifted lower to hit 135 by 2.00 PM , then suddenly kwality fall 20% for the day to get locked at the lower circuit at Rs. 114.60 by 2.18 PM.
Kwality have announced a dividend of 10% which translates into Rs.0.1000 per share on 01-Jun-2017 and the ex-date falls on 21-Sep-2017.
The investors who have bought the shares before 21-Sep-2017 will be receiving this dividend. Kwality is having strong dividend paying record as for the past 9 years the company have paid dividend of 10% to the shareholders.
On 11-Aug-2017, Kwality reported 34% fallen in the net profit at 27.87 crore against Rs 42.27 crore for the quarter ended on june 30 2017.