Shares of Vedanta, NTPC and 10 other companies will go ex-dividend today. A host of companies such as ITC, SBI, Tata Power, Marico, One 97 Communications (Paytm), Marico, India Cements, Kansai Nerolac Paints, Brightcom Group, InterGlobe Aviation and Divis Laboratories will report their quarterly results today.
Vedanta had announced an interim dividend of Rs 12.50 for FY23. The stock with go ex-dividend today. On Saturday, the company will identify dividend beneficiaries, whose name will appear on the register of members or in records of depositories as beneficial owners of the shares. The dividend will be paid on February 26.
In the case of NTPC, the company board had announced an interim dividend of Rs 4.25 per share. The record date for the dividend is set as February 4. The payment of interim dividend will be made on or before February 24.
Coforge had announced an interim dividend of Rs 19 and that the stock will turn ex-dividend today. Today is also the record date for the same. The interim dividend will be paid on February 19.
Torrent Pharma had announced an interim dividend of Rs 14 and that the stock will turn ex-dividend today. Today is also the record date for the same. The interim dividend will be paid on February 24.
Sundaram Clayton will turn ex-dividend today. This company announced an interim dividend of Rs 59 per share. The dividend will be paid on February 24.
Motilal Oswal Securities (dividend: Rs 7 per share), Control Print (Rs 4 per share) KEI Industries (Rs 3 per share) IIFL Securities (Rs 3 per share), Steelcast (Rs 1.80 per share), Vaibhav Global (Rs 1.5 per share), Zensar Technologies (Rs 1.5 per share) are other stocks that will turn ex-dividend today.
The day will also see shares of Shree Ganesh Remedies going ex-rights. Equitas Holdings, on the other hand, will go ex-date for amalgamation.
For ITC, ICICIdirect is expecting a 5.9 per cent revenue growth on the back of strong growth in cigarettes, FMCG, paperboard & hotels business. It sees cigarette volume growth at 10.3 per cent, led by 7 per cent volume growth.
"FMCG business is expected to see strong 19.2 per cent growth led by traction in discretionary categories, price hikes taken in the last one year and recovery in education & stationary business. Paperboard segment is expected to see strong pricing & volume growth. Hotels business is likely to see strongest occupancies and ARRs since Covid-19 outbreak. Agri business is likely to see 7.6 per cent sales decline mainly on account of export restriction on many agri commodities," it siad. It sees net profit rising 8.4 per cent for the quarter.
Kotak Institutional Equities is modelling in 9 per cent YoY growth in cigarette volumes (4.5 per cent on a 3-year CAGR basis versus 5.1 per cent last quarter) in the December quarter, largely driving 12.3 per cent YoY growth in cigarette sales. It forecast 13.3 per cent YoY growth in cigarette EBIT in the December quarter.
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