Dividend stocks alert, record date: Shares of Cochin Shipyard, Anupam Rasayan India, Balu Forge Industries, Gujarat Alkalies and Chemicals, Hinduja Global Solutions, Garden Reach Shipbuilders, Gujarat Intrux, etc are likely to attract heightened investors’ interest on Thursday, September 17, due to their upcoming dividend record dates.
More than 80 companies have fixed Friday, September 18, and Saturday, Sept 19, as their dividend record date. Investors must own a stock before record date to become eligible for the corporate action, under the T+1 settlement cycle.
Under T-1 settlement cycle, stocks and trades are finalised one working day after the trade is carried out. Hence Thursday, September 17, effectively becomes the last day to buy a company’s stock which has fixed Friday, September 18, as the record date for a corporate action. Additionally, investors must purchase shares of companies which have fixed Saturday, September 19, as the record date to qualify for the corporate action.
Dividend stock alert, September 17: Last chance to buy stocks before record date | Check full list
Cochin Shipyard, Balu Forge Industries, Garden Reach Shipbuilders, are among the top companies that have fixed September 18 as the record date. Out of all these companies, Sharda Motors Industries has announced the highest amount of dividend.
Indian stock market today
The Indian stock market today is likely to remain volatile and may react to the US Federal Reserve’s quarter percentage rate hike on Wednesday. Nifty and Sensex ended higher on Wednesday, as they snapped the three-day losing streak.
“The index has not yet formed a Higher High–Higher Low structure, keeping the broader sentiment cautious. The 23,600 level, corresponding to Tuesday’s high, remains the key hurdle. A sustained move above 23,600 would signal a pause in the current downtrend,” explained Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.
