 "HCL Technologies, Tech Mahindra trade lower ahead of bonus issue")
Shares of HCL Technologies and Tech Mahindra were trading lower on the bourses ahead of the bonus issue. The stock of these two technology companies will turn ex-bonus on tomorrow, March 19, 2015.
Tech Mahindra has dipped 2% at Rs 2,810, while HCL Technologies down 1% at Rs 2,013 on the National Stock Exchange (NSE).
HCL Technologies and Tech Mahindra has fixed March 20, 2015 as record date for the purpose of ascertaining the entitlement of the members for the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held.
Bonus shares are free shares given to the existing shareholders of a company.
Tech Mahindra also fixed the said record date for subdivision of the shares in the ratio of 2:1 i.e. two equity shares of Rs 5 each for every one equity share of Rs 10 each held.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
Shares of HCL Technologies has surged 25%, while Tech Mahindra remained flat post announcement of bonus issue on January 30, 2015. The CNX Nifty was declined nearly 3% during the same period.
Tech Mahindra has dipped 2% at Rs 2,810, while HCL Technologies down 1% at Rs 2,013 on the National Stock Exchange (NSE).
HCL Technologies and Tech Mahindra has fixed March 20, 2015 as record date for the purpose of ascertaining the entitlement of the members for the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held.
Bonus shares are free shares given to the existing shareholders of a company.
Tech Mahindra also fixed the said record date for subdivision of the shares in the ratio of 2:1 i.e. two equity shares of Rs 5 each for every one equity share of Rs 10 each held.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
Shares of HCL Technologies has surged 25%, while Tech Mahindra remained flat post announcement of bonus issue on January 30, 2015. The CNX Nifty was declined nearly 3% during the same period.
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