Dhanuka Agritech on the surge

Dhanuka Agritech has shown some 5 times surge in volumes today morning and stock price has jumped up over 4% at Rs.582, after an intra day high of Rs.594.

Two news – first is that it has received a 'Licence to manufacture Insecticides' fromm Joint Director of Agriculture (Plant & Protection), Rajasthan for the Manufacturing unit of the Company situated at Keshwana, Kotputli (Jaipur), Rajasthan. Though it did not give any financial details, the market is happy about the order.

Second news is that it has declared a second interim dividend of Rs.4/share (FV of Rs.2) or 200% for FY16. Prior to this, in Feb’16, it had declared an interim dividend of Rs.2.50 or 125%. This means total dividend in FY16 surrently stands at 325% or Rs.6.50/share.