Shares public sector undertakings (PSU) companies are trading higher by up to 8% in early morning deals in an otherwise lacklustre market.
BEML, Engineers India, HMT, BHEL and ONGC are up more than 2% each, while Coal India, Shipping Corporation of India, STC and Power Grid Corporation are up between 1-2% on the Bombay Stock Exchange (BSE).
The BSE PSU index was up nearly 1% compared to 0.13% rise in benchmark S&P BSE Sensex at 1010 hours.
According to market buzz, the PSU companies may announce an interim or special dividend to equity shareholders in third quarter (October-December) of the current financial year 2013-14.
Coal India is trading higher by 2% at Rs 284, extending its previous day’s 3% rally, on expectations of a special dividend in the third quarter of FY14. Last year, Coal India had paid an interim dividend of Rs 9.7 per share.
Coal India, CMD, S Narsing Rao said the board will decide on the dividend payout by the end of December quarter, a CNBC-TV18 report suggests.
Oil India paid a total interim dividend of Rs 23 per share for the financial year 2012-13, ONGC paid Rs 9 per share, while NTPC and NMDC paid interim dividend of Rs 3.75 and Rs 3 respectively.
BEML, Engineers India, HMT, BHEL and ONGC are up more than 2% each, while Coal India, Shipping Corporation of India, STC and Power Grid Corporation are up between 1-2% on the Bombay Stock Exchange (BSE).
The BSE PSU index was up nearly 1% compared to 0.13% rise in benchmark S&P BSE Sensex at 1010 hours.
According to market buzz, the PSU companies may announce an interim or special dividend to equity shareholders in third quarter (October-December) of the current financial year 2013-14.
Coal India is trading higher by 2% at Rs 284, extending its previous day’s 3% rally, on expectations of a special dividend in the third quarter of FY14. Last year, Coal India had paid an interim dividend of Rs 9.7 per share.
Coal India, CMD, S Narsing Rao said the board will decide on the dividend payout by the end of December quarter, a CNBC-TV18 report suggests.
Oil India paid a total interim dividend of Rs 23 per share for the financial year 2012-13, ONGC paid Rs 9 per share, while NTPC and NMDC paid interim dividend of Rs 3.75 and Rs 3 respectively.