Shares of Hinduja Global Solutions (HGS) shares were locked in the 20 percent lower circuit at Rs 2,855.5 on BSE during Friday’s trade after the company announced a 1:1 bonus share and a third interim dividend for the financial year 2021-22, at Rs 150 per share.
It fixed January 18, 2022, as the record date for payment of the dividend. The dividend will be paid to the eligible shareholders on or before January 27, 2022, it said.
HGS stock hit a record high of Rs 3,948 on Tuesday, January 4, 2022, after the company intimated stock exchanges regarding a board meeting for considering interim dividend and a proposal for bonus issue of equity shares.
In the past month, the stock had rallied 24 percent, as compared to a 5 percent rise in the S&P BSE Sensex till Thursday.
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Partha DeSarkar, CEO, HGS told CNBC-TV18 that the company is paying out a special interim dividend after the sale of its healthcare business. The interim dividend is to celebrate the unlocking of value.
“The company has raised the limit to invest in securities and debentures and is in active talks with a few M&A candidates. Hinduja Global Solutions has lent Rs 500 crore to promoters, and there is a possibility of the company increasing its loans to them. It is not worried about lending to promoters,” DeSarkar said.
Hinduja Global has plans to repay the debt on the books, he said. DeSarkar also said investors should wait and watch when it comes to cash proceeds.
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