Tata Motors and DVR shares will remain active, as the rights issue opens for subscription next week. Shares will turn ex-rights on Monday. Market lot in F&O has been revised to 504 (500) for Tata Motors and 1,008 (1,000) for DVRs. Entitlement ratio has been fixed at 6:109 (six shares for 109 held) at ₹450 (for regular shareholders) and ₹271 (for DVR holders). Reports indicate it has received underwriting for 50 per cent of the ₹7,500-crore righs issue from I-bankers.
Piccadily Agro to turn ex-bonus on Monday
Shares of Piccadily Agro Industries will turn ex-bonus on Monday. The company, with installed capacity to crush 5,000 tonnes of sugarcane a day to manufacture white crystal sugar, is rewarding shareholders with a 1:1 bonus issue. Investors buying the shares from Monday will not get the bonus shares. The stock will start trading in the range of ₹15-20 from Monday following the maiden bonus issue. About 10,000 retail investors hold a 22.89 per cent stake in the firm.
Visagar Poly's board meets for bonus
The board of directors of Visagar Polytex will meet on April 6 to consider a proposal to issue of bonus equity shares by capitalisation of free reserves/securities premium account. The stock rose from a 52-week low of ₹60.8 (23/5/2014) to hit an all-time high of ₹1,100 (last week) on the NSE. Traders and investors will keen on bonus ratio. The company has reported a net profit of just ₹75 lakh on revenues of ₹22.74 crore for the September-December quarter.