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Business News/ Markets / Stock Markets/  NMDC stock to trade ex-dividend, South Indian Bank shares to trade ex-rights today
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NMDC stock to trade ex-dividend, South Indian Bank shares to trade ex-rights today

NMDC has declared an interim dividend of ₹5.75 per equity share, South Indian Bank has declared a rights issue of ₹1,151 crore

DRC Systems India has declared a bonus issue in the ratio of 2:1.Premium
DRC Systems India has declared a bonus issue in the ratio of 2:1.

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 have declared interim dividend, rights issue of equity shares, and bonus issue for their eligible shareholders.

The record date by the 3 companies to ascertain the eligibility of shareholders for their respective issues have been fixed on February 27.

Interim Dividend

NMDC: The company has declared an interim dividend of 5.75 per equity share.

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 shall be paid / dispatched 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 / records of Depositories as beneficial owners of the equity shares as on Tuesday, the 27th February 2024, which is the Record Date fixed for the purpose."

Shares of NMDC will trade ex-dividend on Tuesday.

Rights Issue

South Indian Bank: The company has declared a rights issue of equity shares.

In a stock exchange filing, South Indian Bank said the Board of Directors approved a rights issue to raise up to 1,151 crore to fund business growth.

The board has approved proposal for issuance of 52.31 crore rights issue on 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 has declared a bonus issue in the ratio of 2:1.

Shares of DRC Systems India will trade ex-bonus on Tuesday.

For the third quarter of fiscal year 2024, DRC Systems’ topline increased by 56.96% and the profit rose by 29.79% YoY.

As 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 AM IST
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