Bhart Bijlee share zooms 160 per cent in 2 months
Companies which declared dividends for fiscal 2002-03, for the first time in the last two years, have been amply rewarded with their stock prices appreciating between 10 per cent and 160 per cent in the last two months on the Bombay Stock Exchange (BSE).
A total of 34 companies have proposed to pay dividends for the year after skipping the same in the previous year.
Out of this sample, the aggregate market value of 25 actively traded stocks increased 30 per cent to Rs 10,853.85 crore as on June 25, from Rs 8,340.34 crore on April 25.
These 34 companies have proposed to pay dividends in the range of 5-60 per cent for the year.
In the last two months, the market value of 20 companies increased more than 50 per cent. Bharat Bijlee, Bongaigaon Refinery, Jupiter Biotech, Super Sales Agencies, which reported a turnaround in the year, have seen their respective stocks appreciating by more than 100 per cent.
Bhart Bijlee, which has proposed a 10 per cent dividend, topped the gainers
