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Business News/ Markets / Stock Markets/  Upcoming corporate actions: 1 bonus issue and 1 stock split to watch in August
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Upcoming corporate actions: 1 bonus issue and 1 stock split to watch in August

In the month of August, REC Limited and High Energy Batteries (India) are the two stocks that can be watched for corporate actions.

The Board of REC Ltd has fixed Thursday, August 18, 2022 as the record date for the purpose of bonus issue.Premium
The Board of REC Ltd has fixed Thursday, August 18, 2022 as the record date for the purpose of bonus issue.

In the month of August, REC Limited and High Energy Batteries (India) are the two stocks that can be watched for corporate actions. The Board of REC Ltd has fixed Thursday, August 18, 2022 as the record date for the purpose of bonus issue and hence the stock shall trade ex-bonus on 17th August. Whereas, the record date for the purpose of the stock split has been set by the Board of High Energy Batteries as August 10th. As a result, in order to be eligible for the aforementioned corporate actions declared by the firms, the investor must hold shares by the aforementioned record dates.

REC Ltd

The company has said in a record filing that “In furtherance of our letter dated June 17,2022, the Board of Directors has recommended the issue of Bonus shares to the shareholders of the Company in the ratio of 1:3, i.e. one (1) bonus equity share of 10 each fully paid-up for every three (3) existing equity shares of 10 each fully paid- up, to the eligible members by capitalizing a sum not exceeding 658,30,60,000 (Rupees Six hundred fifty eight crore thirty lakh sixty thousand only) out of the sum standing to the credit of 'Securities Premium Account', subject to the approval of shareholders through postal ballot."

The record date for ascertaining entitlement of eligibility of shareholders for Bonus Shares is Thursday, August 18, 2022, said the Board of the company. The last closing price of the stock was 131.10 and on a YTD basis, the stock has fallen 3.10% so far in 2022.

High Energy Batteries

The Board of the company said in a regulatory filing that “Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, in their meeting held on 29th June 2022 have fixed the Record Date, for the Purpose of Sub-division of existing Equity Share of face value of Rs. 10/- (Ten) each fully paid up into five Equity Shares of face value of Rs. 2/- (Two) each fully paid up, as Wednesday, the 10th August, 2022. The Board passed the resolution fixing the Record Date, subsequent to the approval of the members at the 61st Annual General Meeting of the Company held on 29th June 2022."

The last closing price for the shares of High Energy Batteries (India) Ltd is 1,675.00 and on a YTD basis, the stock has fallen 18.72% so far in 2022.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 31 Jul 2022, 04:57 PM IST
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