Tuesday, 02 January 2024 12:17 GMT

Pidilite And Time Technoplast To Trade Ex-Bonus Today: Here's What Investors Need To Know


(MENAFN- AsiaNet News)

Shares of Pidilite Industries and Time Technoplast will be in focus as these two stocks will begin trading ex-bonus from Tuesday.

Pidilite

Pidilite declared a 1:1 bonus issue alongside its June quarter results, with September 23 as its record date. The shares will begin trading ex-bonus today. 

What this means is that for a shareholder who held 100 shares as of Monday will receive 100 additional shares, doubling their holding to 200. However, the overall value remains unchanged as the price adjusts proportionately.

This is Pidilite's first bonus issue in 15 years, the last announced in 2010. On Monday, the stock closed 0.4% lower at ₹3,036.4, having gained 5% so far this year.

In Q1, the company's net profit rose 18.7% to ₹678 crore, while revenue grew 10.5% to ₹3,753 crore. Pidilite also reported a 9.9% volume growth in the June quarter.

Retail sentiment on Stocktwits improved to 'bullish' from 'neutral' a session earlier.

Time Technoplast

Time Technoplast will also trade adjusted for a 1:1 bonus issue from Tuesday, which means investors with 100 shares will now receive 100 additional shares, doubling their holdings, while the price adjusts accordingly.

This marks the company's first-ever bonus issue, as it has historically rewarded shareholders with annual dividends, the most recent being ₹2.5 per share on September 4.

Time Technoplast reported a 20% rise in Q1 consolidated profit to ₹95.1 crore compared with ₹79.31 crore last year. Revenue for the quarter grew 10% to ₹1,352.65 crore.

Time Technoplast shares ended Monday at ₹476.9, down 0.6%. The stock has shed 3.2% so far this year, though it has gained 23.5% over the past six months.

Retail sentiment on Stocktwits has remained 'neutral' for the past year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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