/ Torrent Power Rises 6% On Dividend Announcement, Snaps Losing Streak ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 24 May 2017

The India-based company engaged in the electricity generation, transmission and distribution, Torrent Power, rallied over 6%, snapping its two-day losing streak. The stock reacted positively as the company in post market hours on Tuesday said that its board of directors has recommended Rs 2.2 per share as final dividend.

The stock also witnessed value buying which also lifted the counter. It hit an of Rs 201.75 per share higher by 6.5% on the NSE.

The company said its consolidated net profit fell to Rs 28 crore for the March quarter, compared with Rs 182 crore in the corresponding quarter last year. Total income from operations declined 4 per cent to Rs 2,481 crore, compared with Rs 2,589 crore in the year-ago quarter. 

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