Patni declares interim dividend of Rs 63; shares up 8pc on BSE
Shares of IT firm Patni Computers on Friday settled with a gain of over 8 per cent on the Bombay Stock Exchange after the company declared an interim dividend of Rs 63 per share for shareholders of the company.business Updated: Aug 13, 2010 20:05 IST
Shares of IT firm Patni Computers on Friday settled with a gain of over 8 per cent on the Bombay Stock Exchange after the company declared an interim dividend of Rs 63 per share for shareholders of the company.
Shares of Patni Computers closed at Rs 516.85, up 8.35 per cent on the BSE. During the session, the stock surged nearly 16 per cent to touch an intra-day high of Rs 551.70.
The board of directors of the company, at its meeting held on Friday, declared a special interim dividend of Rs 63 per share of Rs 2 face value.
"Shareholders were expecting something from the company in the form of an interim dividend. The company is having surplus cash, which it has passed on to its shareholders, which is good," CNI Research CMD Kishore P Ostwal said.
On the National Stock Exchange, the stock settled up 8.78 per cent at Rs 518.75.
A total of over 2.58 crore shares of Patni Computers changed hands on both the bourses.
Last month, the company had reported a growth of nearly 8 per cent in net profit to Rs 146.74 crore for the quarter ended June 30 due to foreign exchange gains.
The company had posted a net profit of Rs 135.96 crore for the same quarter of the previous year.