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Shares of Tech Mahindra will start trading in the range of ₹710-725 beginning Thursday, reflecting both the bonus shares issued and the stock split. Tech Mahindra on Tuesday closed at ₹2,868. It is rewarding its shareholders with a 1:1 bonus issue. The face value of the shares is also being sub-divided to ₹5 from ₹10 now. Those buying the shares from Thursday will not receive the benefits. The NSE has revised the market lot to 500 in F&O from the current 125.
HCL Technologies turns ex-bonus on Thursday
Shares of HCL Technologies will turn ex-bonus from Thursday. The company is rewarding its shareholders with a 1:1 bonus issue. Those buying the shares from Thursday will not be eligible to receive the bonus shares, as the company has fixed March 20 as record date. The company’s shares, now ruling at around ₹2,010, will start trading in the range of ₹1,000-1,020 ex-bonus. The NSE has revised the market lot to 250 in the F&O segment from 125 now.
LIC buying could lift CARE shares
The stock of Credit Analysis and Research (CARE) may witness buying interest on the bourses as Life Insurance Corporation bought 28.82 lakh shares of the company through bulk deal at an average price of ₹1,453. The shares were purchased from IDBI Bank, which offloaded 29 lakh shares at an average price of ₹1,453.09. According to December-end shareholding, IDBI's stake in the rating major stood at 48.18 lakh shares (or 16.62 per cent).
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