Corporate Radar: Key earnings, preferential issue, stock splits & more

NEW DELHI: Wednesday will see a host of corporate decisions and actions. They include a decision on preferential issue by the Inox Wind board, board meetings on stock split by Ajanta Soya and Navkar Urbanstructure and disclosure of quarterly earnings by a few corporations. Among them is Tata Elxsi, which will announce its March quarter results and dividend, if any, today. ICICI Securities, Angel One, Glenmark Lifesciences, RIIL and Add-Shop E-Retail will also disclose their quarterly earnings today.

Companies such as Shankara Building Products, Deepak Spinners, Atam Valves and Wardwizard Innovations & Mobility will hold EGMs today.

Huhtamaki India will go ex-dividend today. The company had announced a final dividend of Re 1.


Meanwhile, Thursday is the record date for Jubilant FoodWorks and Diligent Industries' stock splits. Jubilant shares were split from face value of Rs 10 each to face value of Rs 2 each. Diligent Industries shares were split from face value of Rs 5 to face value of Rs 1.

In a stock split, existing shares split but the underlying value remains the same. As the number of shares increases, price per share goes down. A stock split is generally done to infuse liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices.