Market News
All you need to know about corporate action for this week: Stock Split, Right Issue, Dividends and more
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7 min read | Updated on July 01, 2024, 16:54 IST
SUMMARY
This week Indian stock market expects several corporate activities like dividend announcements, rights issue, bonus issue and stock splits. Watch out for 3M India and SKF India for dividend announcements and stock splits in Worth Investment & Trading Company and Vertoz Advertising. While Inventure Growth & Securities has a record date for its rights issue and a total four companies issuing bonus this week.
From dividends to stock splits and rights issues, the corporate action scene is heating up with activity this week.
Dividend Payouts
The following companies are giving out dividends this week:
On Monday as of July 1, 2024, Tata Communications Ltd has an ex-dividend date for dividend distribution where it will give a special dividend of ₹16.7. As per the company filings July 1, 2024, was its record date. The dividend was announced at 167% over the face value of ₹1 per share.
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Join now(The ex-dividend date determines which shareholders will receive the announced dividend of the company on that specific date. It is the day when the stock of the company goes ex-dividend, meaning the stock from that day does not carry the value associated with its next dividend payment.)
Monday, July 1, 2024, is the ex-dividend date as well as the record date for Geojit Financial Services Ltd where the company will give a dividend of ₹1.5 on face value of ₹1 for each share held on the record date.
Furthermore, GHCL Ltd also has July 1, 2024, as the ex-dividend date and record date. The company will give a dividend of ₹2.4 per share on the face value of ₹2.
Dalmia Bharat Ltd will be paying a final dividend of ₹1.25 per share on the face value of ₹2 for those holding shares on the record date of July 3, 2024, It has the same ex-dividend date and record date of July 3, 2024.
Wednesday, July 4, 2024, will be an ex-dividend date for Tata Power Ltd paying an final dividend of ₹2.00 per share on a face value of ₹1. The interim dividend will be given to those who hold the shares of the company on the record date of July 4, 2024.
SKF India Ltd also has the same ex-dividend date and record date. It will give a dividend of ₹130 per share on the face value of ₹10 for those who hold the shares of the company on the record date of July 4, 2024.
Balaji Amines Ltd has the same ex-dividend date and record date of July 4, 2024. It will give a dividend of ₹11 per share on the face value of ₹2 for those who hold the shares of the company on the record date of July 4, 2024.
3M India Ltd will be paying a special dividend of ₹525 per share and final dividend of ₹160 on the face value of ₹10 for those holding shares on the record date of May July 5, 2024, It has the same ex-dividend date and record date of July 5, 2024.
Piramal Enterprises Ltd has the same ex-dividend date and record date of July 5, 2024. It will give a dividend of ₹10 per share on the face value of ₹2 for those holding the stock on the record date of July 5, 2024.
Friday, July 5, 2024, is the ex-dividend date for the pharmaceutical corporation AstraZeneca Pharma India Ltd. They will give out ₹24 as its final dividend for the 2024 financial year on the face value of ₹2 for those who hold the shares on the record date of May 16, 2024.
On Friday, the ex-dividend date of July 5, 2024, Escorts Kubota Ltd will deliver a final dividend of ₹18 on a face value of ₹10. Thermax Ltd has the same ex-dividend date and record date of July 5, 2024. The company will give a final dividend of ₹12 per share on the face value of ₹2 for those who hold the shares on the record date of July 5, 2024.
Other stocks tuning ex-dividend this week:
| Company Name | Dividend per Share(in ₹) | Dividend % | Dividend | Announcement | Ex-Dividend Date |
|---|---|---|---|---|---|
| GHCL Textiles | 0.5 | 25 | Final | 06-05-2024 | 01-07-2024 |
| LLOYDS Enterprises | 0.1 | 10 | Final | 03-05-2024 | 01-07-2024 |
| Meghmani Finechem | 5 | 50 | Final | 22-04-2024 | 02-07-2024 |
| Swastika Invest | 2 | 20 | Final | 03-05-2024 | 02-07-2024 |
| BNK Cap Market | 2.5 | 25 | Final | 29-04-2024 | 02-07-2024 |
| Milkfood Ltd | 2.5 | 25 | Interim | 25-06-2024 | 05-07-2024 |
| Bharat Forge | 6.5 | 325 | Final | 08-05-2024 | 05-07-2024 |
| Navin Fluorine | 7 | 350 | Final | 07-05-2024 | 05-07-2024 |
| Redington | 6.2 | 310 | Final | 04-06-2024 | 05-07-2024 |
| Biocon | 0.5 | 10 | Final | 16-05-2024 | 05-07-2024 |
| Artemis Medicare | 0.45 | 45 | Final | 10-05-2024 | 05-07-2024 |
| Allsec Tech | 15 | 150 | Final | 06-05-2024 | 05-07-2024 |
| Apollo Tyres | 6 | 600 | Final | 14-05-2024 | 05-07-2024 |
| Shradha Industries | 0.75 | 15 | Final | 31-05-2024 | 05-07-2024 |
| Nucleus Software Exports | 12.5 | 125 | Final | 23-05-2024 | 05-07-2024 |
| Dutron Polymers | 1.5 | 15 | Final | 08-05-2024 | 05-07-2024 |
Source: NSE, EquityMaster
Stock Splits
**Three companies will undergo stock splits this week: **
On July 2, 2024, Worth Investment & Trading Co Ltd will undergo a stock split (ex-date), changing the face value from ₹10 to ₹1 per share, with a split ratio of 10:1. This means if you hold 1 share of the company of ₹10 face value, you will receive 10 shares of ₹1 each after the split.
On July 4, 2024, the ex-split date of Vertoz Advertising Ltd and its shares will be split in a 10:1 ratio where ₹10 shares will trade at ₹1. This means if you hold 1 share of the company of ₹10 face value, you will receive 10 shares of ₹1 each after the split.
On July 4, 2024, Remsons Industries Ltd will undergo a stock split (ex-date), changing the face value from ₹10 to ₹2 per share, with a split ratio of 5:1. This means if you hold 1 share of the company of ₹10 face value, you will receive 5 shares of ₹1 each after the split.
Rights Issue
Three companies having the Rights Issue this week.
July 5, 2024, is the record date for the Right Issue of Equity Shares of Inventure Growth & Securities Ltd which will open on July 15 and close on August 13 for the price of ₹1.33 per share. The Rights Issue is in the ratio of 1:4. This means you can purchase 1 share for each 4 shares held.
Bonus Issue
Oil India Ltd has announced a bonus issue with a record date and ex-date both set for July 2, 2024. The bonus ratio is 1:2, indicating that shareholders will receive one additional share for every two shares they hold.
GPT Infraprojects Ltd is set to implement a bonus issue on July 3, 2024, with both the bonus record date and ex-date aligned. The bonus ratio for this company is 1:1, meaning shareholders will be granted one additional share for each share held.
Remedium Lifecare Ltd has announced a bonus issue with a record date and ex-date both set for July 5, 2024. The bonus ratio is 3:1, indicating that shareholders will receive three additional shares for each one share they hold.
Vertoz Advertising Ltd has announced a bonus issue with a record date and ex-date both set for July 5, 2024. The bonus ratio is 1:1, indicating that shareholders will receive one additional share for each one share they hold.
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