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An interim dividend announcement of Rs 120 a share saw the Swelect Energy Systems scrip gain 10 per cent on Monday.
The scrip closed at Rs 280.15 on the BSE up 9.99 per cent and Rs 279.4 on the NSE up 10 per cent.
A total of 1.51 lakh shares changed hands on the NSE and 1.28 lakh shares on the BSE. This is more than four times the stock’s two-week average traded quantity.
The company had announced sale of its UPS business for Rs 837 crore to Novateur Digital and Electrical Systems on February 9. The formalities of the sale was completed on May 29.
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