Punjab Tractors speeds up on huge dividend doleout

DALAL STREET SPIKES

Punjab Tractors edged 2 per cent up to Rs 201.70 in Thursday's bear market on news that the company board may announce a big dividend. The scrip had gone up to Rs 207.40 during the intraday trade.

The volumes traded in the counter rose four fold to 4.04 lakh shares as against 1.08 lakh shares. The scrip was up 1 per cent on Tuesday to Rs 197.90. The stock has been on a consistant rise for the past one month gaining about 10 per cent.

The company registered profit of Rs 61.30 crore by selling 15 per cent stake in Swaraj Mazda to Sumitomo, Japan, a joint venture partner in Swaraj Mazda.