Wheels India is trading higher by 4.3% at Rs 531, extending its 35% rally in past six trading days, on announcing the interim dividend plans.
“The board of directors of the company will meet on March 15, 2012, to consider and approve interim dividend for the financial year ending March 31, 2012,” the auto parts and equipment makers said in a filing to the stock exchanges.
The company had paid a total dividend of 65% or Rs 6.50 per share on face value of Rs 10 per share for the previous financial year ended March 31, 2011.
Meanwhile, the PTI reports suggests that the company will invest over Rs 70 crore this year on expansion.
Around a combined 112,016 shares have changed hands on the counter so far on the NSE and BSE.