Corporate actions: Asian Paints dividend, Bharat Gears rights issue & IRCTC stock split record date tomorrow

In major corporate actions, the record date of Asian Paint interim dividend, Bharat Gears rights issue and IRCTC (Indian Railways Catering and Tourism Corporation), all are lined up for tomorrow, October 29, 2021.  

Asian Paints management has announced an interim dividend of Rs 3.65 per share for shareholders. The ex-date for the same is October 18. The paint company has awarded as many interim and final dividends 25 times to its shareholders between June 2011 and October 2021, including the current dividend, showed data with Stock Edge. Asian Pains stocks were trading marginally up will 1.22 % gain at Rs 3132.00, up Rs 37.80 around 1.40 pm on BSE in Thursday's intraday trade.  

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Besides, the Bharat Gears Limited board on October 21 has approved a rights issue worth Rs 9.77cr. The shareholders will be awarded one bonus share for very 10 shares held by them. "October 29, 2021, shall be the record date for the purpose of ascertaining the eligible equity shareholders for the Proposed Rights Issue," the company said in a BSE filing on October 21. The company plans to issue 9.3 lakh shares on a rights basis at Rs105 per rights equity shares at a face value of Rs10 each.

Shares of Bharat Gears traded nearly 4 per cent lower to Rs 160.75, down Rs 6.45 in Thursday's intraday trade on BSE.  

In another major corporate development, the IRCTC shares will be split from Rs 10 to Rs 2 ratio.

Indian Railway Catering and Tourism Corporation has fixed 29 October 2021 as the record date for the proposed split. IRCTC's board in August 2021 recommended the proposal for sub-division of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each (5-for-1).

IRCTC shares were back in action after seeing correction recently. Stocks of IRCTC touched an upper circuit of Rs 908.35 on BSE in the afternoon trade on Thursday. IRCTC stocks were trading with Rs 93 gain at Rs 919. around 1.45 pm