ADC India hits another 'special' high

ADC India had hit a new high on Friday at Rs.286.20 and today it opened higher than this and went on to a new high at Rs.302. Volumes are up from a mere 10,000 shares to 28,000 shares changing hands in today’s morning trade alone.

In a surprise move, the company brought some cheer to its shareholders after its Board declared a special one-time interim dividend of Rs.29/share on a face value of Rs.10/share for FY15. The payment of the interim dividend shall commence on and from April 17, 2015, the record date.

The company did not give any reasons for declaring this ‘special’ dividend but one can assume that it is probably on the back of a good performance it reported for Q3FY15, wherein its net profit rose 68% (YoY) at Rs.1.46 crore.

Its market cap stands at Rs.134 crore.