Banco Product has announced a whopping dividend of Rs. 20/- per share...hopefully thats not a typo as it is a payout of 140 crores from this companys coffers! the market cap of this company is 1200 crores only! It has had a history of giving higher dividend than its net profits but this one is the biggest yet.. company manufactures engine cooling and engine sealing system for auto and industrial purposes..has good domestic and international clients..no debt in balance sheet... topline has barely doubled in 10 years though so that is a thought to consider.. one may go long if the downward ward resistance trendline is broken....already gone up quite a bit post result and dividend declaration
Trade closed manually:
going for other opportunities as this has not moved as per expectations...may very do after my exit as was the case of Elecon :)