Dolly Khanna Stock: Sharda Cropchem shares end 19% lower on ex-dividend date; heres what triggered the sharp fall
Shares of Sharda Cropchem, one of the stocks in Dolly Khannas portfolio, declined as much as 24.28% to Rs 557.65 a share on the BSE against its previous closing price of Rs 693.10 per share on Friday.
This pesticides and agrochemical stock in ace investor Dolly Khanna's portfolio tanked more than 20% in Monday's intraday trade on the BSE. This Dolly Khanna stock has also started trading ex-dividend starting July 25.
Shares of Sharda Cropchem, one of the stocks in Dolly Khanna's portfolio, declined as much as 24.28% to Rs 557.65 a share on the BSE against its previous closing price of Rs 693.10 per share on Friday.
On Monday, the shares of this pesticides firm ended lower by 18.66% or Rs 129.30 to 563.80 per share on the BSE.
Dolly Khanna holds 10,81,526 shares or 1.20 stake in the company as on the quarter ended June 2022, as per BSE shareholding pattern of the company.
The sharp fall in the counter was triggered by Q1FY23 results, in which the company reported a decline in net profit by 40.51% YoY to Rs 22.64 crore in the quarter ended June 2022. The pesticides and agrochemical manufacturer had reported Rs 38.06 crore in the same quarter a year ago.
However, Sharda Cropchem sales jumped 32.42% to Rs 824.53 crore in the Q1FY23 against Rs 622.68 crore during the previous quarter ended June 2021.
Earlier, the Board of Directors of Sharda Cropchem had announced a final dividend of Rs 3 per share. The shares turned ex-dividend today, July 25. The record date for Sharda Cropchem has been fixed as July 26.
An ex-dividend date is the trading date, on and after which, the investors are not entitled to a dividend upon buying new shares.
Dolly Khanna has added three new stocks —Zuari Industries, Monte Carlo Fashions and Suryoday Small Finance Bank — to her portfolio in the April-June quarter, as per shareholdings of these companies on the BSE.
As per the latest corporate filings of Zuari Industries, Dolly Khanna bought 348,622 shares or 1.2% stake in the company catering sugar segment in the quarter ending June '22. The ace investor bought 12,27,986 shares or 1.16 stake in Suryoday Small Finance Bank Ltd in the same quarter, while she also added 3,69,032 shares or 1.78% stake in Monte Carlo Fashions, as per the BSE June shareholdings of the two companies.
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