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THE counter of Dabur India on Tuesday witnessed a sharp fall in its stock price when there was overall buying interest in the market.

Dealers said the sharp fall was due to the de-merger of the company's FMCG and pharma business. They said the shareholders would soon get one share of the de-merged pharma business for two shares held by them of Dabur India. The talk is that the pharma company's shares are likely to be listed at Rs 30.

On Tuesday, Dabur India stock declined by 16.16 per cent at Rs 66.50 on the BSE with a volume of 6.05 lakh shares and on the NSE, it closed at Rs 66.85, down 15.81 per cent, with a volume of 15.25 lakh shares.

Goes ex-dividend

ANOTHER stock to fall sharply on Tuesday was Paper Products. The stock closed at Rs 179.35, down 9.6 per cent, on the BSE with a volume of 4,335 shares. On the NSE, it closed at Rs 179.35, down 9.19 per cent, with a volume of 7,207 shares.

Dealers said the fall in the stock price had nothing to do with the business of the company. It was due to the stock being traded ex-dividend from Tuesday. The company had announced a dividend of Rs 15 (150 per cent) per share. The stock traded was ex-dividend price, which means that investors who bought shares on Tuesday will not receive Rs 15 dividend.

Gains on good monsoon forecast

WITH normal monsoon in South-Western part of India, market players have turned bullish toward agrochemicals companies. Among this list is United Phosphorus.

Dealers said buying in the counter was seen on Tuesday on prospects of good demand for agrochemicals. The demand for agrochemicals increases during monsoon.

On Tuesday, the stock price of the company gained 5.29 per cent at Rs 450.75 on the BSE with a volume of 5,650 shares and on the NSE, it closed at Rs 449.35, up 5.09 per cent, with a volume of 3,641 shares. Other than the good monsoon, dealers said some investors are also bullish on the stock due to the good export orders for agrochemicals the company has on hand. In the last couple of years, United Phosphorus has been receiving large amount of export orders.

Virendra Verma

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