NHPC declares interim dividend; stock surges over 10%

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
NHPC has surged 12% to Rs 30.80, also its 52-week high on the BSE in intra-day trade on back of heavy volumes after the company announced interim dividend of 17% or Rs 1.70 per equity share.

“The board of directors of the company in its meeting held on January 12, 2017 has declared an interim dividend @ 17% of the face value of Rs 10 per share (Rs 1.70 per equity share) on the paid up equity share capital of the company for the financial year 2016-17,” NHPC said in a BSE filing.

The company has fixed January 20, 2017 as the record date for the purpose of payment of interim dividend. The rate of interim dividend is highest level since its listing on the price.

At 02:26 pm; the stock was up 11% at Rs 30.30 on the BSE on back of 20-fold jump in trading volumes. A combined 77.14 million shares changed hands on the counter on the BSE and NSE so far.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel