Engineers India leads PSU pack

Select PSU stocks are in the limelight, led by Engineers India, which is currently the top gainer on the BSE Sensex. The stock is up almost 6% at Rs.167.30, with an intra day high at Rs.169.95 and volumes have jumped up almost 4.5 times.

The stock is up, like others – Coal India, Oil India, BEML, ONGC, BHEL on hopes that the these PSU companies might declare a special or interim dividend. This hope stems from the fact Q3 is usually the time when these companies had declared interim and special dividends last fiscal.