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Generally when markets peak, stock splits by companies gather momentum. The aim is to make the shares affordable to investors and create more liquidity. However, this time the scenario has been different so far.
Shares of Hindustan Composites will remain in focus, as they turn ex-bonus on Thursday. The company has fixed Friday as the record date to identify eligible shareholders to receive the bonus shares. The company will issue one bonus share for every two shares held. That means investors who wish to receive the bonus share from the company will have to buy the shares by Wednesday. Shares of Hindustan Composites will also turn ex-date for stock split (to ₹5 from the current ₹10).
Suzlon Energy said it has won a repeat order of 50.40 megawatts (MW) wind power project in Karnataka from a leading IPP company. The announcement was made after market hours yesterday, 10 April 2017. The project will be completed by June 2017. Suzlon will execute the entire project on a turnkey basis and will also provide operation and maintenance services. The announcement was made after market hours yesterday, 10 April 2017.
The board of Hindustan Composites will meet on Monday to consider a further issue of shares by way of bonus shares and a proposal for sub-division of the face value of its equity shares. The current face value of the company’s stock is ₹10. Investors will be keen on the bonus and stock split ratios. If approved, it would be the maiden bonus issue from the manufacturer and marketer of industrial products and friction material for auto brake linings.
Hindustan Zinc said its board of directors at a meeting held on Wednesday, 22 March 2017, approved special interim dividend of Rs 27.50 per share for the year ending 31 March 2017 (FY 2017). The record date for the payment of interim dividend is 30 March 2017. The announcement was made after market hours yesterday, 22 March 2017.
Hindustan Composites lost 4.13% to Rs 1,649 at 10:50 IST on BSE after net profit fell 32% to Rs 10.88 crore on 9.9% decline in net sales to Rs 44.31 crore in Q2 September 2016 over Q2 September 2015.
The results that are expected today are Oil India, Cox & Kings, Abbott India,Sadbhav Engineering, Hindustan Composites, Himachal Futuristic Communications.
Bharti Airtel | Cipla | GAIL | Idea Cellular | Apollo Tyres | Tata Elxsi | Aurobindo Pharma | Uflex | Dilip Buildcon | ARSS Infra | GPT Infra | Strides Shasun | Ashok Leyland and Ricoh India are stocks, which are in the news today.
Saturday will see two companies — Genus Power Infrastructures and Indosolar — declaring their financial results for the quarter and half year ended September 2016.