Corporate actions this week: HDFC Bank, HCL Technologies to go ex-dividend, Sanginita Chemicals right issue and more

This week is packed with notable corporate actions. HDFC Bank, HCL Technologies, Oracle Financial Services Software, Laurus Labs, UCO Bank, and Bank of Maharashtra are set to go ex-dividend, while Ajooni Biotech and Sanginita Chemicals have their rights issue ex-date scheduled.

On Monday, May 6, John Cockerill India (Rs 7/share) will go ex-dividend. Moving to Tuesday, May 7, HCL Technologies (Rs 18/share) and Oracle Financial Services Software (Rs 240/share) will follow suit.

On Wednesday, May 8, Laurus Labs (Rs 0.4/share) will trade ex-dividend, while GM Breweries (Rs 7/share) will do so on Thursday, May 9.

Aptech (Rs 4.5/share), Bank of Maharashtra (Rs 1.4/share), DCB Bank (Rs 1.25/share), Gujarat Intrux (Rs 7/share), HDFC Bank (Rs 19.5/share), Ramkrishna Forgings (Re 1/share), Transformers & Rectifiers (Rs 0.2/share), UCO Bank (Rs 0.28/share) will trade ex-dividend on Friday, May 10.

The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date. All the shareholders whose names appear in the company's list by the end of the record date will be eligible to receive dividends.

Sonam Ltd (Rs 10 to Rs 5) will undergo a stock split on Friday, aiming to enhance stock liquidity.

Meanwhile, the record date for Ajooni Biotech and Sanginita Chemicals rights issues is set for Tuesday, May 7, 2024.

A rights issue is a prevalent form of corporate action where the company invites existing shareholders to buy additional shares in the company at a discounted price within the said period (the cut-off date).

However, as existing shareholders of the company, you do not have an obligation to buy additional shares. If you think the company has a flourishing business, you can apply for the rights issue and increase your stake within the company.

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