Walchandnagar Industries Limited has informed the stock exchanges that the board of Walchandnagar Industries has recomended an issue of bonus shares to the equity shareholders apart from a Stock Split and a fat 100% special dividend to mark the centenary year for the company. The Walchandanagar Bonus Issue ratio, subject to shareholder approval is 1:1 and the ratio for the stock split is 5:1. The bonus issue, stock split and dividend are subject to shareholders approval in the forthcoming AGM.
DLF has informed the stock exchanges that the board of directors of DLF have recommended a dividend of 100%, which works out to Rs. 2 per share of face value Rs. 2 each. The dividend is subject to approval from the shareholders of DLF in the ensuing AGM. The share prices of DLF have steadily been rising right from the time it got listed on the stock exchanges earlier this month.
Leading real estate company Unitech has informed the stock exchanges that the board of Unitech has recommended a bonus issue of shares (also known as stock dividend) in the ratio of 1 : 1 (1 bonus share for every 1 share held). The board of Unitech has also recommended an equity dividend of 50 paise per share. The board of Unitech has decided to increase the authorised share capital to Rs. 500 crore to accommodate the increase in paid up capital of Unitech after the bonus issue.
Divi’s Laboratories has informed the stock exchanges that it would be splitting the face value of its equity shares from Rs 10 each to Rs 2 each. Divi’s Laboratories had also announced an interim dividend of 100%, which works out to Rs 10 per share of face value Rs.10 each. Following the stock split announcement, Divi’s Laboratories has smartly moved up by 8% to Rs 4390.
The board of directors of ICRA have recommended dividend at 45%, which works out to Rs. 4.50 per share of face value Rs.10. The board of directors of NIIT Technologies have recommended dividend of Rs 6.50 per share. The board of directors of Punjab National Bank (PNB) have recommended a final dividend of Rs 6 per share. The board of directors of MRO TEK have recommended a final dividend of 20%. Karur Vysya Bank’s board has recommended a dividend of 100%.
Tata Motors has informed the Indian stock exchanges that the board of Tata Motors has declared a dividend of Rs. 15 per share. Jindal Steel and Power has informed the Indian stock exchanges that the board of Jindal Steel and Power has recommended a final dividend of Rs. 12 per share. SAIL has informed the Indian stock exchanges that the board of SAIL has recommended a final dividend of 15%. Lanco Industries has informed the Indian stock exchanges that the board of Lanco Industries has recommended a dividend of Rs. 1 per share.
Nava Bharat Ventures has informed the Indian stock exchanges that the board of Nava Bharat Ventures on 19 May 2007 had recommended a dividend of 200%. The board of directors of Nava Bharat Ventures have also resolved to acquire 51% stake in Brahmani Infratech for Rs. 55 crores. Karnataka Bank has informed the Indian stock exchanges that the board had recommended a dividend of 35%. Kalpataru Power Transmission has informed the Indian stock exchanges that the board of Kalpataru Power Transmission has recommended a dividend of 75%. Parsvnath Developers has informed the Indian stock exchanges that the board of Parsvnath Developers has recommended a dividend of 25%.
State Bank of India (SBI) announced its results today. SBI posted a 75% spurt in net profit to Rs. 1932 crores in the fourth quarter ended March 2007 (Q4 2007) compared with Rs. 853 crores in the fourth quarter ended March 2006 (Q4 2006). State Bank of India (SBI) gave more loans to companies, individuals and farmers. Markets, especially the banking stocks, surged today as SBI’s results were much better than what the analysts expected. State Bank of India (SBI) has also declared a dividend of 140% which works out to Rs. 14 per share of face value Rs.10 each.
Bank Of Rajasthan Limited has informed the Indian Stock Exchanges that the Board of Directors of Bank of Rajasthan at their meeting held on 12 May, 2007 have recommended a dividend of 20%. Bank Of Rajasthan Limited has also informed the Indian Stock Exchanges that the Board of Directors of Bank of Rajasthan at their meeting held on 12 May, 2007 have recommended an issue of Bonus Shares in the ratio 1:4 (one bonus equity share for every four equity shares held) to the existing shareholders of Bank Of Rajasthan who hold shares on the record date which will be announced by the board of Bank Of Rajasthan, in the coming few days.
Hero Honda Motors has informed the Indian stock exchanges that, the Board of directors of Hero Honda, at their meeting held on May 11, 2007 have recommended a dividend of 850%, which works out to Rs.17 per equity share of face value Rs.2 each. The dividend is subject to statutory approval by the shareholders of Hero Honda at the ensuing AGM.