Thursday, 28 April 2011 12:25
Tring! Tring! Anybody and everybody who held PTCL in his portfolio had a field day yesterday. Within seconds of the telecom player’s nine-month result announcement its stock price shot up to its upper circuit limit; as the company surprised its investors with an interim dividend of Rs1.75 per share.
And although the stock closed lower than its upper-level, by the end of the day, nearly 22 million shares had exchanged hands – the highest single-day volume since March 2010 -- as against an average 1.9 million shares in the calendar year to date.
But that’s all the excitement there is to PTCL. The telecom giant continues to show signs of fatigue with net earnings falling by a massive 37 percent for the nine months ending March 2011.
Intense competition in the sector and the gradual shift away from fixed line telephony to mobile telephony in the country put a strain on the company’s ...
