Trending today: Shares of this pharmaceutical company surge ahead of its ex-dividend date

The company had announced a dividend of Rs 2.60 per equity share, representing 260% of the face value of Rs 1 per equity share.

The shares of Amrutanjan Health Care Ltd are buzzing on the bourses today. As of 12.25 pm, the shares of Amrutanjan Health Care Ltd are trading at Rs 757 apiece, higher by 3.22% over the previous close. Meanwhile, the frontline index S&P BSE Sensex is up by 0.72%.

The surge in the share price of Amrutanjan Health Care Ltd comes ahead of the ex-dividend date of the company, which is tomorrow, September 14, 2022. The company had announced a dividend of Rs 2.60 per equity share, representing 260% of the face value of Re 1 per equity share.

To give a perspective, a person purchasing a stock prior to the ex-date, and holding the position before the market opens on the ex-date, is entitled to receive the benefit of the corporate action. A person purchasing a stock on its ex-dividend date or after that, cannot claim the benefit.

Amrutanjan Health Care Ltd is engaged in the manufacture of a wide range of ayurvedic and allopathic products. The company's products are available in the Gulf, African, South East and Asian countries. Plans are also ready to enter the US and European markets. Their product portfolio includes Amrutanjan pain balm, Dragon Roll-on liquid balm, joint ache cream, pain relief kit, cold rub, vaporizing gel, cough drops, Swas mint, Diakyur capsules, Jiffy tablets, Decorn (corn caps), Cutis olive oil, etc. The company is also engaged in the business of Beverages, OTC Products.

The company is trading at a TTM PE of 36.46x against the industry PE of 38.47x. In FY22, the company delivered an ROE and ROCE of 28.03% and 37.93%, respectively.

Today, the scrip opened at Rs 730, and touched an intraday high and low of Rs 758.40 and Rs 730, respectively. So far 4086 shares have been traded on the bourses. The stock has a 52-week high and low of Rs 1025.55 and Rs 721, respectively on BSE.