Idea Cellular gains on hopes of maiden dividend
The board will meet on April 25 to consider a final dividend on equity shares of the company.
Idea Cellular has surged 5% to Rs 117 in otherwise weak market on hopes of maiden dividend from the telecom services provider since its listing in March 2007.
The board of directors of the company will meet on Thursday to consider a final dividend on equity shares of the company.
“The board meeting scheduled on April 25, 2013 for consideration of audited financial results for the financial year ended March 31, 2013, may also consider recommendation of final dividend on equity shares of the company for the financial year ended March 31, 2013, if thought fit,” Idea Cellular said in a BSE filing.
For the first nine months (April-December 2012), the company had reported a 45% year-on-year (yoy) jump in its consolidated net profit at Rs 703 crore.
Analyst on an average has expects a profit of Rs 273 crore for the fourth quarter ended March 2013.
The stock opened at Rs 112 and hit a high of Rs 118 on BSE. A combined around 1.28 million shares have changed hands on the counter so far on BSE and NSE.
The board of directors of the company will meet on Thursday to consider a final dividend on equity shares of the company.
“The board meeting scheduled on April 25, 2013 for consideration of audited financial results for the financial year ended March 31, 2013, may also consider recommendation of final dividend on equity shares of the company for the financial year ended March 31, 2013, if thought fit,” Idea Cellular said in a BSE filing.
For the first nine months (April-December 2012), the company had reported a 45% year-on-year (yoy) jump in its consolidated net profit at Rs 703 crore.
Analyst on an average has expects a profit of Rs 273 crore for the fourth quarter ended March 2013.
The stock opened at Rs 112 and hit a high of Rs 118 on BSE. A combined around 1.28 million shares have changed hands on the counter so far on BSE and NSE.