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Shares of Coal India Ltd surged by nearly 5 per cent after the company announced that its board of directors will on January 14 meet to consider payment of interim dividend for the current fiscal.
The company has also fixed January 20 as the record date for eligibility to receive dividend.
The stock gained Rs 13.40 or 4.88 per cent to move up to Rs 289 in the BSE enthused by the dividend payment announcement and the fixation of the record date even before the quantum of dividend was decided.
The market is expecting the PSUs to fork out hefty dividend as the GoI seeks to mop up additional resources to meet its commitments.
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