The counter on Tuesday clocked a volume of 7,000 shares. If the company does announce a dividend of Rs 25 per share at the current market price the yield works out to be an attractive 18.76 per cent. According to market sources, the company is also selling remianing 10 per cent stake in Hutchison Max India. In April, 1998 Max India sold 41 per cent stake in its telecom subsdiary, Hutchison Max Telecom, to Hong Kong based Hutchison Group for an amount of Rs 561 crore. For the six months ended October 31, 1998, Max India posted a net profit of Rs 171 crore on a paid-up equity capital of Rs 11.53 crore. The profit included interim dividend of Rs 165 crore from its cellular phone joint venture, Max Telecom. Max India has, in turn, declared interimdividend of 1,000 per cent i.e., (Rs 100 per share to its shareholders).

Since Max held 51 per cent stake in the joint venture analysts expected Max India to sooner or later sell the remaining 10 per cent stake in Hutchison Max.

The Max group is the country's largest producer of Pencillion-G. Pharmaceuticals contributes 38.84 per cent to Max's turnover, the group also includes the Rs 94-crore Penicillin-G manufacturer, Hindustan Max GB. Max India has recently acquired a software company and plans to foray into healthcare sector by setting up hospitals.