Dividend alert: Shares of more than 35 stories including Hindustan Copper, Bajaj Steel Industries, VST Tillers Tractors, Ajmera Realty & India Infra Limited, and Indotech Transformers, are likely to remain at the centre of stock market action during Tuesday’s trading session.
These companies have fixed September 16 as the record date for dividend payout. The Indian stock market follows the T+1 settlement cycle, which means that stock trades are finalised and ownership transfer occurs the next business day after the trade settlement. Hence, Tuesday is the last day for investors to buy these stocks for dividend payout.
Nearly 36 companies, including Ajmera Realty, Hindustan Copper, Atam Valves, Cineline India, Gujarat Craft Industries, Northern Spirits, Sigma Solve, and Vinati Organics, have fixed Wednesday, September 16, as the dividend record date. Out of these companies, VST Tillers Tractors has announced the biggest dividend, ie of ₹25 per share. Here’s the full list.
Indian stock market today
Indian stock market is likely to remain volatile during Tuesday’s trading session. Nifty 50’s strength above 23,500 will signal pullback towards 23,650 levels in the coming sessions, according to Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.
“Failure to do so will signal some consolidation in the range of 23,230-23,500.Immediate bias in the index remains down and a follow-through weakness below last week low 23,231 will open downside towards the short-term support placed around the June low of 23,070 levels in coming week,” stated Pabitro Mukherjee.
