SI Reporter |
Mumbai
July 9, 2012
Last Updated at 14:36 IST
Swelect Energy surges 10% on Rs 120 per share interim dividend plans
A combined 307,208 shares have changed hands so far and there are pending buy orders for 280,432 shares on both the exchanges.
Swelect Energy Systems (formerly Numeric Power Systems) has frozen at its upper circuit of 10% at Rs 280.15 after its board recommended an interim dividend of Rs 120 per share for the fiscal 2012-13.
“The board of directors of the company at its meeting held on July 09, 2012, has passed the resolution regarding the payment of interim dividend of Rs 120 per equity share from the retained earnings, free of tax in the hands of the shareholders, for the financial year 2012-2013,” Swelect Energy Systems said in a filing.
The stock opened at Rs 260 and hit a low of Rs 250 on the National Stock Exchange. As many as a combined 307,208 shares have changed hands so far, against an average of 50,000 shares that were traded daily in past two weeks. There are pending buy orders for 280,432 shares on both the exchanges.
