Hindustan Zinc, two other stocks to go ex-dividend; Mindtree to turn ex-amalgamation

Wednesday will see three stocks namely Hindustan Zinc, Panama Petrochem and Indian Toners & Developers going ex-dividend today. Today is also the ex-date for Mindtree and LTI merger. Mindtree and LTI started operating as a merged entity from November 14 after receiving NCLT approval .

Hindustan Zinc will go ex-dividend today. The company had announced interim dividend of Rs 15.50 per share. The record date for the same is November 24 and the dividend will be paid on December 16.

Panama Petrochem will go ex-dividend today. The company had announced an interim dividend of Rs 6.75 per share. The record date for the same is November 24 and the dividend will be paid on December 14. Seasoned investors Ramesh Damani and Anil Goel are among public shareholders in this company. Anil Kumar Goel held 7,60,000 shares or 1.52 per cent, stake in this company as of September 30. Ramesh Damani, on the other, hand, held 6,36,379 shares or 1.27 per cent stake in the company as of September-end.

Shares of Indian Toners & Developers will also go ex-dividend. This company had announced an interim dividend of Rs 3.5 per share and the record date for the same is November 24. The dividend will be paid on December 10.

Today is the ex-date for Mindtree amalgamation of LTI and Mindtree had announced their intent to merge in May. The effective date for the company to start operating as one entity was November 14.  As part of the merger, all shareholders of Mindtree were to be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The parent company, L&T, holds 68.73 per cent  of the merged entity. The record date to determine the eligible shareholders of Mindtree for issue of equity shares of LTI pursuant to the scheme is fixed as November 24.

The board of Naysaa Securities will meet today to consider a proposal of bonus issue. The board of Veerhealth Care will consider a proposal of preferential issue of shares.

No stock is banned in the F&O segment today. Derivative contracts in a security are banned when they cross 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.

Meanwhile, Inox Green Energy, whose initial public offer (IPO) was sold from November 11 to November 15, will make its market debut on Wednesday. The listing ceremony for the wind power operation and maintenance service provider will take place at BSE.  If one goes by what the grey market premium (GMP) suggests, a muted listing for the stock is all likely.

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