Torrent Power 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,” Torrent Power 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.