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PTC India Ltd. is a small-cap company with a market capitalization of Rs. 2,538.27 Cr. It operates in the nation's power sector. PTC India Ltd. (PTC), the leading supplier of power trading solutions in India, was founded in 1999 as a Public-Private Partnership under the authority of the Indian government. In their meeting held today, the Board of Directors of the company has declared 58% dividend i.e. Rs. 5.8 per equity share of Rs. 10 each and in order to determine the eligibility of the shareholders for the purpose of the same, the record date has also been announced at the meeting.

The company has said today in a stock exchange filing that “This is in continuation to our letter dated 24th November 2022 and telephonic discussions with BSE official regarding recommendation of final dividend recommended in Board meeting held on 24th November 2022. a) The rate of final dividend (as recommended) for FY 2021-22 is 58% i.e. Rs. 5.8 per equity share of Rs. 10 each. The same is subject to approval of shareholders in ensuing Annual General Meeting proposed to be held on 30th December 2022; b) This is further to clarify that Register of members shall remain closed from 17th December 2022 to 30th December 2022 for the purpose of dividend. Further, the Members of the Company whose names appear on the Register of Members as on Friday, 16th December, 2022 (closing hours) would be entitled to receive the final dividend (if declared at ensuing AGM) @ 58% (i.e. 5.8 rupees per equity share at a share of Rs. 10/- each) for FY 2021-22."

The shares of PTC India Ltd closed today at 85.80 apiece, down by 4.98% from the previous close of 90.30. The stock recorded a total volume of 827,842 shares compared to the 20-Day average volume of 538,067 shares. In the last 1 year, the stock has fallen 24.04% and on a YTD basis, it has fallen 22.28% so far in 2022. 

The stock had touched a 52-week-high of 116.40 on (13-December-2021) and a 52-week-low of 67.50 on (21-October-2022), indicating that at the current market price the stock is trading 26.28% below the 1-year high and 27.11% above the 1-year low. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 16.22% and a public shareholding of 83.78%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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