Shares of Wipro, Diamond Power Infrastructure, Gujarat Natural Resources, Indo US Bio-Tech, and Moongipa Capital Finance will be under the spotlight today as they approach their ex-dates on 3 December 2024. These companies are undertaking significant corporate actions, such as dividends, bonus issues, stock splits, and rights issues, which will impact shareholder value and market movements. Below are the details of the respective corporate actions.
Wipro: Bonus issue
Shares of IT giant Wipro will trade ex-date tomorrow due to the company’s 1:1 bonus equity issue. This means shareholders will receive 1 bonus share of Rs 2 face value for every existing share held. Similarly, holders of American Depository Shares (ADS) will also receive 1 bonus ADS for every 1 ADS held.
The record date, fixed for 3 December 2024, determines eligibility for this bonus issuance, subject to shareholder approval. This announcement reflects Wipro’s commitment to rewarding its investors as the company continues its growth trajectory in the IT sector.
Indo US Bio-Tech: Interim dividend
Indo US Bio-Tech has declared an interim dividend of Rs 0.25 per equity share of Rs 10 face value for the financial year 2024-25. The ex-date for this dividend is 3 December 2024, with the payment set to be completed by 19 December 2024.
This dividend highlights the company’s ongoing profitability and consistent returns to its shareholders in the agriculture and biotechnology sectors.
Diamond power infrastructure: Stock split
Diamond Power Infrastructure will also trade ex-date tomorrow due to its stock split announcement. The equity shares of Rs 10 each will be subdivided into 10 equity shares of Rs 1 each.
The record date, set for 3 December 2024, ensures that shareholders holding the stock as of this date will benefit from the subdivision. This move aims to enhance the stock’s liquidity and make it more accessible to retail investors.
Gujarat natural resources: Rights Issue
Shares of Gujarat Natural Resources will trade ex-date tomorrow as part of the company’s rights issue initiative. Eligible shareholders will be entitled to receive 3 fully paid-up equity shares of Rs 10 each for every 5 shares held.
The rights issue reflects the company’s efforts to raise additional capital for growth and expansion. The record date for determining eligibility is fixed as 3 December 2024.
Moongipa capital finance: Rights issue
Similarly, Moongipa Capital Finance will trade ex-date on 3 December 2024 for its planned rights issue. Shareholders will receive 2 rights equity shares for every 1 equity share held at a price of Rs 25 per share, which includes a premium of Rs 15.
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This rights issue enables existing shareholders to increase their holdings at preferential pricing while the company secures funding for its future projects.
Additional update: Rajoo engineers
In related news, shares of Rajoo Engineers turned ex-date today, 2 December 2024, following a 1:3 bonus issue. Eligible shareholders will receive 1 bonus share for every 3 shares held, with the record date already set for 2 December 2024. This move aims to reward shareholders and enhance the company’s capital structure.
Understanding ex-dates and corporate actions
The ex-date signifies the first day a stock trades without the rights to dividends, bonuses, rights issues, stock splits, or buybacks. To qualify for these benefits, investors must purchase shares before the ex-date. The company then uses the record date to identify shareholders eligible for these entitlements.
Corporate actions like those announced by Wipro, Indo US Bio-Tech, and others often influence stock prices and provide existing shareholders with added value.
Conclusion
The trading session on 3 December 2024 will be critical for investors in these companies as they navigate the ex-dates. Whether through bonus issues, dividends, or stock splits, these corporate actions reflect efforts to reward shareholders and drive future growth. Investors are advised to keep an eye on these developments and align their investment strategies accordingly.
