Dividend record date alert: Shares of Shri Venkatesh Refineries, Engineers India, Arfin India Limited, and Adtech Systems Limited, will remain in focus during Wednesday’s trading session due to their upcoming dividend record date.
All these four companies have fixed Thursday, September 24, as the dividend record date to determine the eligibility of investors for the payout.
Last chance to qualify for dividend | Full list
The Indian stock market follows the T+1 settlement cycle, which means that a trade is settled one business day after the transaction. Which means that, for companies with September 24 as dividend record date, September 23, is the last day to qualify for the payout.
How to become eligible for a dividend payout?
Companies fix record date to determine the eligibility of investors for corporate actions like dividend, bonus issue, and stock split. Investors must own a stock before the record date to become eligible for the corporate action.
Indian stock market today
The Indian stock market today, September 23, is likely to remain volatile and may see some selling pressure after Nifty 50 and BSE Sensex snapped their four-day winning streak in the previous session. Nifty 50 index on the daily chart formed a bearish candle which signalled selling pressure at higher levels.
“Index in the last 5 session has been consolidating within last Tuesday sizable bearish candle highlighting consolidation after recent sharp decline. Nifty is likely to extend its recent consolidation and trade in the broad range of 23,115-23,650 in the coming sessions,” explained Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.
“On the higher side 23,600-23,650 will act as major resistance being the last week high and the recent breakdown area. The index needs to sustain a higher high and higher low formation and reclaim 23,650 to signal a pause in the ongoing downtrend. On the downside, a breach below the previous week’s low of 23,115 will resume the corrective phase towards the 23,000 and 22,800 levels,” Mukherjee added.
