High Dividend Stock: Shares of this company surged post the announcement of a 120 per cent dividend!

Shares of the company, one of the top gainers of BSE Healthcare pack, soared over 5 per cent on a more than 6-fold increase in volume!

The Indian benchmark indices started off considerably lower but were able to recover to trade flat. The session's worst performers were fast-moving consumer goods (FMCG), utilities and power stocks, though gains in the auto and real estate sectors attempted to make up for the losses.  

The BSE Healthcare index was trading significantly higher, led by Bliss GVS Pharma Ltd. Shares of Apollo Hospitals Enterprise Ltd, one of the Top Gainers of BSE Healthcare pack, also drew attention from investors due to their strong uptrend in an otherwise weak market.  

At 1:00 pm, shares of Apollo Hospitals Enterprise Ltd soared over 5 per cent on a more than 6-fold increase in volume, reaching an intraday high of Rs 4,505.55 per share on the BSE.  

The board of directors of the company declared an interim dividend of Rs 6 per share (120 per cent of face value of Rs 5 each) for the financial year ending March 31, 2023 and fixed February 24, 2023 as the record date for determining the eligibility of shareholders entitled to the interim dividend. The company recently reported a dismal quarter performance, with a 33 per cent year-on-year decline in net profit.   

With a strong presence across the healthcare ecosystem, including hospitals, pharmacies, primary care & diagnostic clinics, Apollo Hospitals has established itself as Asia's leading integrated healthcare services provider.  

Keep a close eye on this scrip for the upcoming sessions!