Shares of Tata Power, Marksans Pharma, Uniparts India, Optiemus Infracom and Seshasayee Paper & Board, are among stocks that are in focus as they turned ex-dividend on Wednesday (June 7). Tata Power has declared a dividend of Rs 2 per equity share for financial year (FY) 2022-23. The Board of Directors have fixed June 8 as the record date to determine the eligibility of shareholders.
Shares of Tata Power were trading almost flat on Wednesday. The stock ended 1 percent lower at Rs 217 in the previous trading session on BSE. The stock of Tata Power gained 7 percent in the last one month, but has lost nearly 8 percent in a year. On a year-to-date basis, the stock is up 2 percent.
Technically, the relative strength index or RSI of Tata Power stands at 64.7, signaling the stock is neither oversold nor overbought. Moving average convergence or divergence (MACD, or MAC-D) is at 3.5, which is above its center and signal Line, this is a bullish indicator.
The stock has a one-year beta of 1.1, indicating high volatility during the period. Tata Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Pharmaceutical company Marksans Pharma shares will turn ex-dividend today. Marksans Pharma had announced a dividend of Re 0.5 per equity share. The pharma company has fixed Wednesday (June 7) as the record date.
Shares of Marksans Pharma were up 3.42 percent at Rs 92.05 apiece in trade today. The company's shares have doubled investors' wealth in the last one-year period, rising 100 percent. On a year-to-date basis, the stock has gained 56 percent.
Shares of Uniparts India are also trading ex-dividend today. The company has approved a dividend of Rs 6 per equity share. Today is the record date for the same. The stock is trading higher at Rs 567.80 per share during morning deals. The stock gained 5 percent in the last one year, while it was down 0.49 percent on a year-to-date basis.
Optiemus Infracom, meanwhile, will also turn ex-dividend today. The company has declared a dividend of Rs 1.5 per equity share and the record date for the same is today. All eligible shareholders with their names in the list at the end of record date will be eligible to receive dividend. The actual payment will be made on June 24.
The stock was trading flat during Wednesday's morning deals. Optiemus Infracom shares were up 39 percent in the last one month, while on a year-to-date basis it fell 25 percent.
Seshasayee Paper and Boards, on the other hand, has announced a dividend of Rs 6 per share, which is 300 percent of the face value of the share. The company had fixed June 7 as the record date for the same.
The stock of Seshasayee Paper and Boards has offered about 48 percent returns in the past one-year period.
Shares of companies trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
(Edited by : C H Unnikrishnan)
First Published: Jun 7, 2023 12:09 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM