Payout push for Balaji Telefilms

DALAL STREET SPIKES

Shares of Balaji Telefilms went up around five per cent to close at Rs 126.45, after hitting an intra-day high of Rs 128.

The counter saw volumes to the tune of 3.46 lakh shares in the BSE alone. The surge in the stock price was due to the dividend of Rs 16 per share announced by the company's board on Friday last.

At the current share price, the yield works out to nearly 13 per cent. The record date for the dividend is January 6, 2005. The scrip price has been going up since December 22, 2005 when the company announced the board meeting to consider the interim dividend.

In September, 2004, the Star group had picked up around 25 per cent stake in Balaji at a price of Rs 90 per share. The pay-out of dividend was contingent upon the stake acquisition.