Hero MotoCorp share price falls over 4% as stock trades ex-dividend
BusinessToday.In February 11, 2019
The Hero MotoCorp share price fell over 4% in trade today after the stock adjusted for interim dividend. The Hero MotoCorp share price dipped 4.34% to 2,805.15 compared to the previous close of 2,932.5 on BSE. The Hero MotoCorp share has been falling for the last two days and is down 1.83% during the period.
The ex-dividend date is the day on which all shares bought and sold no longer come attached with the right to receive the most recently declared dividend.
The board of directors of Hero MotoCorp, on January 31, declared an interim dividend of Rs 55 per share of Rs 2 each (at the rate of 2,750 percent) for the financial year 2018-19.
The Hero MotoCorp share price was trading below its 50-day and 200-day moving averages of 2,907 and 3,025 levels, respectively.
30 of 49 brokerages rate the Hero MotoCorp stock "buy" or 'outperform', 12 "hold", four "underperform" and three "sell", according to analysts' recommendations tracked by Reuters.
The Hero MotoCorp share price has fallen 18.70% during the last one year and lost 7.17% since the beginning of this year.
Meanwhile, the Sensex and Nifty were trading 96 points and 36 points lower at 36,451 and 10,907, respectively.