monthly corporate action tracker -...

Monthly Corporate Action Tracker

- Dossier of key corporate actions in September, 2018

September 11, 2018

Research Analyst:

Amit Gupta Bharat Chhoda Cheragh Sidhwa

[email protected] [email protected] [email protected]

2

Deal Team – At Your ServiceCorporate Action Tracker- September 2018

Preferential allotment in August 2018

2

3

4

5

Board meetings and AGM for September 2018

Major stakeholder’s activity in August 2018

Stock split, open offer and buyback for September 2018

Announced/Probable dividend1

Historical trends of corporate actions6

Companies likely to pay dividend in September 2018

3

Announced dividend

Source: Capitaline, ICICI Direct Research

Announced dividend


Company Dividend Face value Dividend Dividend Yield

(%) (|) (|/share) (%)

Reliance Infra. 95 10.00 9.5 2.0 12/9/2018

Hindalco Inds. 120 1.00 1.2 0.5 12/9/2018

Heidelberg Cem. 25 10.00 2.5 1.5 12/9/2018

Jubilant Life 300 1.00 3 0.4 12/9/2018

Apollo Hospitals 100 5.00 5 0.4 12/9/2018

Himatsing. Seide 50 5.00 2.5 0.9 12/9/2018

Jain Irrigation 50 2.00 1 1.2 12/9/2018

Reliance Capital 110 10.00 11 2.4 12/9/2018

MMTC 20 1.00 0.2 0.6 12/9/2018

Oil India 10 10.00 1 0.5 12/9/2018

DLF 40 2.00 0.8 0.4 12/9/2018

NHPC Ltd 2.8 10.00 0.28 1.1 12/9/2018

MOIL 25 10.00 2.5 1.4 12/9/2018

Sadbhav Engg. 100 1.00 1 0.4 12/9/2018

Ramkrishna Forg. 10 10.00 1 0.2 12/9/2018

NIIT Tech. 150 10.00 15 1.1 12/9/2018

Time Technoplast 80 1.00 0.8 0.5 12/9/2018

Reliance Home 10 10.00 1 1.4 12/9/2018

Gulf Oil Lubric. 325 2.00 6.5 0.8 14/09/2018

Godfrey Phillips 400 2.00 8 0.9 17/09/2018

Jai Corp 50 1.00 0.5 0.3 17/09/2018

Sun Pharma.Inds. 200 1.00 2 0.3 17/09/2018

SJVN 2 10.00 0.2 0.7 17/09/2018

Rural Elec.Corp. 17.5 10.00 1.75 1.5 17/09/2018

Repco Home Fin 22 10.00 2.2 0.4 17/09/2018

Ex-date


(%) (|) (|/share) (%)

TVS Srichakra 400 10.00 40 1.4 18/09/2018

Thomas Cook (I) 37.5 1.00 0.375 0.2 18/09/2018

Jindal Saw 60 2.00 1.2 1.4 18/09/2018

R C F 6 10.00 0.6 0.9 18/09/2018

Hind.Copper 5 5.00 0.25 0.4 18/09/2018

Relaxo Footwear 150 1.00 1.5 0.2 18/09/2018

CARE Ratings 120 10.00 12 0.9 18/09/2018

CARE Ratings 250 10.00 25 1.9 18/09/2018

Jubilant Food. 50 10.00 5 0.4 18/09/2018

PVR 20 10.00 2 0.1 18/09/2018

Bharat Dynamics 72.9 10.00 7.29 2.1 18/09/2018

J Kumar Infra 40 5.00 2 0.8 18/09/2018

Dilip Buildcon 10 10.00 1 0.1 18/09/2018

Sadbhav Infra. 5 10.00 0.5 0.4 18/09/2018

Gujarat Gas 40 10.00 4 0.6 18/09/2018

Guj Alkalies 65 10.00 6.5 1.1 19/09/2018

H F C L 6 1.00 0.06 0.2 19/09/2018

Marksans Pharma 5 1.00 0.05 0.1 19/09/2018

Vakrangee 25 1.00 0.25 0.6 19/09/2018

Jindal Poly Film 10 10.00 1 0.4 19/09/2018

Sunteck Realty 150 1.00 1.5 0.3 19/09/2018

I T D C 18.5 10.00 1.85 0.5 19/09/2018

Glenmark Pharma. 200 1.00 2 0.3 19/09/2018

Guj.St.Petronet 17.5 10.00 1.75 0.9 19/09/2018

Escorts 20 10.00 2 0.3 21/09/2018

KNR Construct. 20 2.00 0.4 0.2 24/09/2018

Ex-date

Companies likely to pay dividend in September 2018

4

Probable dividend


Probable dividend



(%) (|) (|/share) (%)

Container Corpn. 75 5.00 3.75 0.5 12/9/2017

BEML Ltd 80 10.00 8 0.4 13/09/2017

R C F 11 10.00 1.1 1.1 13/09/2017

Himadri Specialt 10 1.00 0.1 0.1 13/09/2017

NHPC Ltd 1 10.00 0.1 0.3 13/09/2017

PTC India 30 10.00 3 2.5 13/09/2017

Repco Home Fin 20 10.00 2 0.3 13/09/2017

Oberoi Realty 20 10.00 2 0.5 13/09/2017

Finolex Cables 150 2.00 3 0.6 14/09/2017

Guj Fluorochem 350 1.00 3.5 0.5 14/09/2017

MMTC 30 1.00 0.3 0.8 14/09/2017

Vakrangee 200 1.00 2 0.8 14/09/2017

Oil India 47.5 10.00 4.75 2.2 14/09/2017

NMDC 100 1.00 1 0.8 14/09/2017

SJVN 5 10.00 0.5 1.5 14/09/2017

H U D C O 0.5 10.00 0.05 0.1 14/09/2017

Mahanagar Gas 110 10.00 11 1.0 14/09/2017

Delta Corp 35 1.00 0.35 0.2 14/09/2017

Orient Cement 50 1.00 0.5 0.3 14/09/2017

Rural Elec.Corp. 26.5 10.00 2.65 1.6 14/09/2017

Sadbhav Engg. 75 1.00 0.75 0.3 14/09/2017

United Breweries 115 1.00 1.15 0.1 14/09/2017

NIIT Tech. 125 10.00 12.5 2.5 14/09/2017

WABCO India 140 5.00 7 0.1 14/09/2017

Divi's Lab. 500 2.00 10 1.2 15/09/2017

Aarti Inds. 20 5.00 1 0.1 18/09/2017

Last Years

Ex-date


(%) (|) (|/share) (%)

Sun Pharma.Inds. 350 1.00 3.5 0.7 18/09/2017

Phoenix Mills 120 2.00 2.4 0.5 18/09/2017

Indraprastha Gas 50 2.00 1 0.3 18/09/2017

Sunteck Realty 150 1.00 1.5 0.5 19/09/2017

DLF 100 2.00 2 1.0 19/09/2017

Natl.Fertilizer 8.5 10.00 0.85 1.3 19/09/2017

Prestige Estates 12 10.00 1.2 0.4 19/09/2017

Zee Learn 5 1.00 0.05 0.1 19/09/2017

BASF India 10 10.00 1 0.1 20/09/2017

Granules India 25 1.00 0.25 0.2 20/09/2017

G M D C 150 2.00 3 2.1 20/09/2017

Glenmark Pharma. 200 1.00 2 0.3 20/09/2017

Jagran Prakashan 150 2.00 3 1.6 20/09/2017

Guj.St.Petronet 15 10.00 1.5 0.7 20/09/2017

J Kumar Infra 40 5.00 2 0.9 20/09/2017

Gujarat Gas 30 10.00 3 0.4 20/09/2017

Radico Khaitan 40 2.00 0.8 0.5 21/09/2017

O N G C 16 5.00 0.8 0.5 21/09/2017

I T D C 13.3 10.00 1.33 0.2 21/09/2017

APL Apollo 120 10.00 12 0.7 21/09/2017

Rajesh Exports 110 1.00 1.1 0.1 21/09/2017

Ashoka Buildcon 16 5.00 0.8 0.6 21/09/2017

Time Technoplast 65 1.00 0.65 0.3 21/09/2017

KNR Construct. 25 2.00 0.5 0.2 21/09/2017

PNC Infratech 25 2.00 0.5 0.4 21/09/2017

8K Miles 20 5.00 1 0.3 25/09/2017

Last Years

Ex-date

5



2

3

4

5






Board meetings and AGM scheduled in September 2018

6

AGM in September 2018

In September 2018, BPCL, Indoco Remedies and ICICI Bank would hold their AGM to approve the audited financial accounts of the company

for FY18.

Key Highlights


Board meetings in September 2018


Company Name Meeting Date Board Meeting purpose

Alembic Pharma 10/9/2018 Others

Reliance Home 10/9/2018 Quarterly Results

Power Fin.Corpn. 11/9/2018 Quarterly Results

Reliance Capital 11/9/2018 Others

Balmer Lawrie 12/9/2018 Others

Pilani Invest. 12/9/2018 Quarterly Results

Tour. Fin. Corp. 12/9/2018 Quarterly Results

BF Investment 14/09/2018 Others

Rural Elec.Corp. 14/09/2018 Others

Company name Event Date Event Type Event Location

B P C L 11/9/2018 AGM Mumbai

Indoco Remedies 11/9/2018 AGM Mumbai

ICICI Bank 12/9/2018 AGM Vadodara

Pilani Invest. 14/09/2018 AGM Kolkata

Polo Queen Ind. 21/09/2018 AGM Mumbai

7



2

3

4

5






Corporate actions announced in September 2018

8

Stock split

Ongoing open offer



Tender Buyback


Face value before Face value after

Company Name Ratio split split Record date

Zensar Tech. 5:1 10.0 2.0 10/9/2018

Kirl.Pneumatic 5:1 10.0 2.0 NA

JMC Projects 5:1 10.0 2.0 NA

DFM Foods 5:1 10.0 2.0 NA

Jindal Worldwide 5:1 5.0 1.0 NA

Indian Energy Ex 10:1 10.0 1.0 NA

Offer Start Offer Close Offer Price Proposed Acquisition Proposed Acquisition

Company Date Date (|) (No. of shares in crore) (% Capital)

Olectra Greentec 10/10/2018 24/10/2018 175.3 2.4 26.0

Fortis Health. 7/9/2018 24/09/2018 170.0 19.7 26.0

Company Name

Number of Shares

(in crores) Buyback Price

Offer Opening

Date

Offer Closing

Date

TCS 7.6 2100 6/9/2018 21/09/2018

9



2

3

4

5






Major stakeholder’s activity seen in August 2018



HDFC Asset Management Company purchased 5 lakh shares (0.5%) of Inox Leisure

East Bridge Capital Fund purchased 13.3 lakh shares (2.0%) of Shriram City Union Finance

Smallcap World Fund purchased 23.9 lakh shares (1.0%) of Greaves Cotton

Promoter group purchased 34.0 lakh shares (0.7%) of Trident

HDFC Mutual Fund purchased 97.0 lakh shares (2.0%) of Gujarat Pipavav Port

Pabrai Investment Fund purchased 7.1 lakh shares (2.4%) and 13.7 lakh shares (2.1%) of CARE Ratings & Kaveri

Seed, respectively.

Reliance Capital Trustee sold 6.8 lakh shares (0.8%) and 31.0 lakh shares (1%) of Shoppers Stop and PTC India

respectively.

ICICI Prudential Life Insurance Company sold 52.1 lakh shares (2%) of Tata Chemicals

Key Highlights

Company No of shares Bought/Sold Total Equity Net change % of total

(In lakhs) (In lakhs) (%)

Inox Leisure 5.0 964.6 0.5

Shriram City Union Finance 13.3 659.7 2.0

Greaves Cotton 23.9 2442.1 1.0

Trident 34.0 5096.0 0.7

Guj Pipavav Port 97.0 4834.4 2.0

CARE Ratings 7.1 294.6 2.4

Kaveri Seed Co. 13.7 660.9 2.1

Shoppers St. -6.8 879.9 -0.8

Tata Chemicals -52.1 2547.6 -2.0

PTC India -31.0 2960.1 -1.0

11



2

3

4

5









The momentum related to raising money through preferential allotment continued to slow down. The number of companies that raised capital

through preferential allotment in August 2018 (17 companies each) was lowest over the last year and significantly lower than last year’s average

of 28 companies.

Company No.of Eq. Shares Face Value Issue Price Issued To Issued Category Date of allotment

(in crore) (|) (|)

Electrost.Cast. 4.85 1 28.85 Electrocast Sales India Ltd & PACs NA 20/08/2018

Indo Rama Synth. 0.32 10 33.98 EC Special Situations Fund NA 4/8/2018

Indo Rama Synth. 0.43 10 33.98 Edelweiss India Special Situations Fund-II NA 4/8/2018

Monnet Ispat 21.52 10 10 NA Non Promoter 16/08/2018

Hind.Copper 13.88 5 0 NA QIP 1/8/2018

HDFC Bank 1.28 2 2160 NA QIPs 2/8/2018

Ramky Infra 0.27 10 101 ALLA DAKSHAYANI Promoter 10/8/2018

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3

4

5






Deal Team – At Your Service

14

Historical trend of rights and bonus issues

Number of rights issues- CNX 500 Number of bonus issues- CNX 500


Of the CNX 500 companies, the rights issue has gained currency as a method to raise capital with seven companies

raising funds to the tune of | 4780 crore through a rights issue in CY17 compared to two companies raising funds

of | 910 crore in CY16

Total 29 companies had announced bonus issue in CY17 compared to 16 companies in CY16. In CY18, 15

companies have declared bonus issue till date

Key Highlights

6

8 8

5 5

7

5

2

7

4

0

2

4

6

8

10

CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17

CY18

(upto

Aug

2018)

Number of rights Issue (CNX 500 Companies)

8

28

1412 12

10

17 16

29

15

0

5

10

15

20

25

30

35

CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18

(upto

Aug

2018)

Number of Bonus Issues

Deal Team – At Your Service

15

Historical trend of stock splits and dividend payouts

Number of stock splits- CNX 500 Average dividend payout ratio (%) for CNX 500


Post the implementation of the new 10% dividend tax, companies are opting for share buybacks over dividends.

Average dividend payout ratio has been on a downward trend with the ratio declining from 36.5% in FY15 to 23%

in FY17

Total 10 companies had announced stock split in CY17 compared to 15 companies in CY16, while for YTDCY18 (up

to August 2018) , four companies have announced stock split

Key Highlights

20.0

22.6 23.321.8

24.7

28.1

30.5

36.5

26.0

23.0

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17

Dividend Payout Ratio

11

39

18

7 6

12 13 1510

4

0

10

20

30

40

50

CY09 CY10 CY011 CY12 CY13 CY14 CY15 CY16 CY17 CY18

(upto

Aug

2018)

Number of stock Split

16

Pankaj Pandey Head – Research [email protected]

ICICI Direct Research Desk,

ICICI Securities Limited,

1st

Floor, Akruti Trade Centre,

Road no.7, MIDC

Andheri (East)

Mumbai – 400 093

[email protected]

Disclaimer

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