Dividend, stock-split: Coforge, Softsol, 4 others under spotlight today
Source: Business Standard
Dividend, stock-split today: Coforge, Rajnish Retail, Hercules Hoists, and three other companies will remain in focus during today’s trading session as their shares will trade ex-date tomorrow for corporate actions such as dividends, stock splits, rights issues, and demergers they have announced. BSE data reveals that shares of Coforge and Blue Cloud Softech will trade ex-date tomorrow for their announced dividends. Coforge has announced an interim dividend of Rs 19, while Blue Cloud Softech has announced a final dividend of Rs 0.20 for their shareholders. The record date to determine eligibility for the said dividend is October 11, 2024, for Coforge, and October 12, 2024, for Blue Cloud Softech.
Rajnish Retail has announced the subdivision/split of equity shares in the ratio of 5:1. Accordingly, one equity share of face value Rs 5 each will split into five fully paid-up equity shares of face value Re 1 each.
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Meanwhile, Kretto Syscon shares will trade ex-date tomorrow as the company’s board has approved the issue of equity shares with a face value of Re 1 each by way of a rights issue for an aggregate amount not exceeding Rs 49 crore. However, the company is under Enhanced Surveillance Measure (SM) Stage 2 on the BSE.
Additionally, Softsol India, and Hercules Hoists will trade ex-date tomorrow for demerger announcements. Softsol India shares will turn ex-date tomorrow as the company has announced demerger plans. Covance Softsol will be carved out of Softsol India. The company has also fixed October 11, 2024, as the record date for determining the eligible shareholders of Hercules Hoists to whom the securities of Indef Manufacturing will be allotted. Softsol India is also under Enhanced Surveillance Measure (SM) Stage 2 on the BSE.
Meanwhile, shares of Hercules Hoists will trade ex-date tomorrow as the company has announced the demerger between Hercules Hoists (Demerged Company) and Indef Manufacturing (Resulting Company). According to an exchange filing, each equity shareholder of Hercules Hoists as of the record date will be issued and allotted one fully paid-up equity share of Re 1 each of Indef Manufacturing for every one fully paid-up equity share of Re 1 each of Hercules Hoists.
Besides these, IDFC, ARC Finance, and New Light Apparels will trade ex-date today for the announcements of amalgamation, rights issue, and stock split, respectively. New Light Apparels turns ex-split today as the company has announced a stock split from Rs 10 to Re 1 apiece. ARC Finance trades ex-date today following their announcement of a rights issue of 40,39,60,000 fully paid-up equity shares of Re 1 each at an issue price of Rs 1.20 per equity share, aggregating to Rs 48,47,52,000.
IDFC shares turn ex-date today following the announced merger of IDFC Financial Holding Company and IDFC Limited with IDFC FIRST Bank. This means IDFC Financial Holding Company and IDFC Limited will cease to exist, leaving IDFC FIRST Bank as the sole entity owned by public shareholders. As part of the merger, IDFC Limited shareholders will receive 155 shares of IDFC FIRST Bank (face value Rs 10 each) for every 100 IDFC Limited shares (face value Rs 10 each) held as of October 10, 2024, the designated record date.
First Published: Oct 10 2024 | 8:50 AM IST
