Friends - Today, March 14th is the record date for dividend payment. The stock price is currently at Rs. 24.35 as I blog. On 15th, post the dividend record date, the price is expected to go down by Rs 1.50 - to Rs. 23.00.
Obviously the price did not meet our expectations of Rs 26-30. If you bought it at around Rs 22 - two weeks back - then you have made a tax free dividend of 6.8%. Assuming you sell it at Rs 23.00, then you have made a pre tax capital gain of 4.5%.
This is far below what we had hoped for - but a 10% return in two weeks not bad.
I am going to exit this stock tomorrow - But I will keep an eye on it. Remember, this is an interim dividend and the company may pay one more smaller dividend (I think 5% or Rs 0.5 per share) in June.