Nelcast pushes for 30% dividend

The board of directors of Nelcast (Q, N,C,F)* recommended a dividend of 30% for the financial year 2007-08. The company recorded net profit of Rs 60.05 million, on net sales of Rs 1,139.23 million for the latest quarter ended March 2008. Chennai-based Nelcast is a manufacturer of spheroidal graphite (SG) iron castings and grey iron castings. Shares of the company declined Rs 2.95, or 2.54%, to trade at Rs 113. The total volume of shares traded was 21,346 at the BSE. (2.44 p.m., Monday)