Precision Wires India is trading higher by 4% at Rs 102 after announcing plans to set up a wind energy project in Gujarat. The board of directors, in the meeting held on 13 May, approved the said project at a cost of about Rs 12 crore.
Meanwhile, the company has posted a net profit Rs 23 crore for FY10 as against Rs 1 crore in previous FY09 fiscal. The board has recommended a total dividend of Rs 4.40 or 44% per equity share of Rs 10 each for FY10, as against Rs 0.80 or 8% paid in FY09.
The stock opened at Rs 98 and has touched high of Rs 103 thus far. Around 91,789 equity shares have changed hands on the NSE counter thus far.
