Shares of NMDC Ltd, South Indian Bank Ltd, and DRC Systems India Ltd will be in focus when the stock market opens on February 27 (Tuesday).
The Board of Directors of these companies declared an interim dividend, a right issue of equity shares and a bonus for their eligible shareholders.
The record date of the 3 companies to ascertain the eligibility of shareholders for their respective matters was set on February 27.
Interim Dividend
NMDC: The company declared an interim dividend of ₹5.75 per share of stock.
In a stock exchange filing, NMDC said the Board of Directors “declared 1st Interim Dividend @ ₹ 5.75 (Rupees five and seventy five paise only) per equity share of face value of Re.1/- each for the financial year 2023-24. The said Interim Dividend will be paid / remitted within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members / Registers of Depositories as beneficial owners of the equity shares as on Tuesday , February 27, 2024, which is the Record Date set for that purpose.”
Shares of NMDC will trade ex-dividend on Tuesday.
Right Matter
South Indian Bank: The company has declared a rights issue of equity shares.
In a stock market filing, South Indian Bank said the Board of Directors has approved a rights issue to raise up to ₹1,151 crore to fund business growth.
The board approved a proposal for a rights issue of Rs 52.31 crore on a fully paid-up basis for an amount aggregating up to ₹1,151.01 crore assuming full subscription with respect to rights equity shares, it said.
Shares of South Indian Bank will trade ex-rights on Tuesday.
Bonus Issue
DRC Systems India: The company declared a bonus in the ratio of 2:1.
Shares of DRC Systems India will trade ex-good on Tuesday.
During the third quarter of fiscal year 2024, DRC Systems’ top line increased by 56.96% and profit increased by 29.79% YoY.
Compared to the previous quarter, the revenue grew by 37.09% and the profit increased by 244.5%.
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Published: 27 Feb 2024, 06:16 IST