New Delhi, Jan 7 (PTI) Shares of Hinduja Global Solutions Limited on Friday tumbled 20 per cent to hit its lower circuit limit.

The stock tanked 20 per cent to Rs 2,855.45 -- its lower circuit limit -- on BSE.

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On NSE, it tumbled 20 per cent to its lower circuit limit of Rs 2,856.65.

Board of Directors of the company at their meeting held on January 6, 2022 considered and approved declaration of third interim dividend of Rs 150 per share for the financial year 2021-22. It also fixed January 18, 2022 as the "Record Date" for the payment of this dividend, the company said in a BSE filing on Thursday.

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The dividend will be paid to the eligible shareholders/members on or before January 27, 2022, the filing added.

"The Hinduja Group's business process management entity, Hinduja Global Solutions on Thursday approved the third interim dividend of Rs 150 per equity share for FY22 and fixed January 18, 2022, as the "Record Date" for the payment of this dividend. As a result, the company's share tanked 20 per cent in the morning session as investors were disappointed with a lower-than-expected dividend," according to Mohit Nigam, Head - PMS, Hem Securities.

The filing further added that recommendation of issue of new equity bonus shares in the proportion of one equity share of Rs 10/- each for every existing equity share of Rs 10/- each held by the shareholders/members of the company as on the record date, subject to the approval of the shareholders/members and statutory/regulatory approvals, other approvals, consents, permissions, conditions and sanctions, as may be necessary.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)