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Torrent Power gains after board declares interim dividend

The stock rallied nearly 7% to Rs 242 after the company announced an interim dividend of Rs 4.5 per share (45%) for the current fiscal,

Torrent Power

SI Reporter  |  Mumbai 

Torrent Power: Long-term triggers in place

surged nearly 7% to Rs 242 on the National Stock Exchange (NSE), after the company announced an interim dividend of Rs 4.5 per share (45%) for the current fiscal, a 200% higher as compared to previous year.

The company had paid a total dividend of Rs 1.5 per share (15%) during the previous financial year 2014-15.

“The board of directors of the company at its meeting held on March 10, 2016, has declared Interim dividend of Rs 4.50 per equity share of Rs 10 each for FY 2015-16,” said in a statement.

The interim dividend will be paid / dispatched from March 23, 2016, it added.

The trading volumes on the counter more than doubled with a combined 2.21 million shares changed hands on the BSE and NSE till 01:48 p.m.

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First Published: Thu, March 10 2016. 13:53 IST