Geometric Shares Soar On Interim Dividend Announcement

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Geometric shares jumped nearly 13 per cent on Wednesday following the announcement of an interim dividend of Rs. 3 per share for 2015-16.

Billionaire investor Rakesh Jhunjhunwala and his wife together own 19 per cent in the IT consulting company.

Geometric said that the interim dividend will be payable on and from March 30, 2016.

Geometric shares were in huge demand today, with the total traded quantity soaring to 12.8 lakh as compared to two-week average of 1.64 lakh daily.

Mumbai-based Geometric is a specialist in the domain of engineering services and technologies. It was set up as a division of Godrej and Boyce in 1984 and was spun off into an independent company a decade later.

Geometric reported nearly $180 million in revenue for 2014-15 financial year.

Geometric shares closed 11 per cent higher at Rs. 199 as compared to 0.5 per cent gain in the broader Sensex.