LIC Backed Stock Hit 52W High As Board Sets Record Date For 78% Dividend

PTC India is a small-cap power trading company that recorded a market cap of Rs 3,874.75 Cr as of Friday's closing session. Established in 1999, PTC India Ltd. (PTC) is the top supplier of power trading solutions in India. On Friday, the shares of PTC India opened on the BSE at Rs 126.10 apiece and went on to hit a fresh 52-week-high of Rs 132.20 apiece during the afternoon deals. The rally in share price was witnessed after the Board of Directors of the company announced record date for 78% dividend.

"Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer books will remain closed from Thursday, the September 21, 2023 to Wednesday, September 27, 2023 (both days inclusive).

Further, the Members of the Company whose names appear on the Company's Register of Members as on Wednesday, 20th September, 2023 (closing hours) would be entitled to receive the final dividend (if declared at ensuing AGM) @ 78% (Rs. 7.8 per equity share of Rs.10/- each) for FY 2022-23," said PTC India in a stock exchange filing.

PTC India Ltd. has issued 21 dividends since June 29, 2004, according to Trendlyne statistics. PTC India Ltd. announced an equity dividend of Rs 5.80 per share in 1 year. This generates a dividend yield of 4.43% at the current share price of Rs 130.90.

The firm reported a consolidated net profit of Rs 142.70 crore for the April-June quarter of the current fiscal, up 5.62 percent YoY from the quarter that ended on June 30, 2022, when the company's net profit was Rs 135.10 crore. From Rs 4,310.74 crore in Q1FY23 to Rs 4,863.46 crore in Q1FY24, the company's total income climbed.

During Q1FY24, the company recorded promoters shareholding of 16.22%, FIIs stake of 28.28%, DIIs stake of 8.31%, Govt stake of 3.38% and public stake of 43.81%. As per the shareholding pattern of PTC India for the April to June quarter of FY24, insurance giant LIC held 1,76,54,072 shares or 5.96% of the total paid-up capital of the company.