Upcoming Bonus Issue, Stock Split Next Week: Nazara Tech, Adani Power, Pidilite Industries, Sandur, More

Upcoming Bonus Issue, Stock Split Next Week: The Indian stock market next week will see massive action as investors are likely to react to a host of updates related to the nex gen Goods and Services Tax (GST) reform, H-1B visa fee shock, lingering uncertainty over the India-US trade deal, and geopolitical uncertainties. Meanwhile, stocks like Nazara Technologies, Adani Power, Pidilite Industries, Sandur Mangenes & Iron Ores, Adani Power, Pidilite Industries, etc will remain in focus due to bonus issue and stock split.

The list of upcoming bonus issue and stock split stocks include giant names like Adani Power, Pidlite Industries, Nazara Technologies, etc. Here are all the details of upcoming corporate actions.

Upcoming Bonus Issue

Stocks of Sandur Mangenes & Iron Ores Limited, Pidilite Industries, Time Technoplasts, Chandra Prabhu International Limited (Ltd), and Nazara Technologies will trade ex-record date next week. These companies had fixed record date to determining the eligibility of shareholders for bonus issue record date.

Upcoming Stock Split

Shares of Adani Power, Nazara Technologies, PVV India, and RM Drip and Sprinklers Systems Limited will remain in focus next week because of their record date for stock split. A stock split is a corporate action, where a company distributes additional shares in equal proportion among its existing shareholders.

The division of company's existing shares into new shares increases the shares of a company, but it also proportionaly decreases the price per share and the face value of these shares.

Adani Power has fixed record date as 22 September to determine the eligibility of shareholders for stock split. The company has announced to split shares from Rs 10 to Rs 2.

Stock Market Weekly Outlook

The Indian stock market ended their three-day winning streak as investors booked profits after Nifty and Sensex touched a two-month high mark. Despite, Friday's fall, Nifty 50 closed with a weekly gain of 213 points at 25,327 points. Likewise, Sensex closed at 82,626 points, after a weekly gain of 729.62 points.
"Since the August lows, the Nifty and Sensex had advanced nearly 4%, including a 1.5% gain in the last three sessions. On Thursday, the Nifty briefly crossed the 25,400 mark, while the Sensex moved past 82,100 intraday. However, both indices retreated, with the Sensex slipping 388 points, or 0.40%, to close at 82,626, and the Nifty easing 71 points, or 0.30%, to settle at 25,353," noted Motilal Oswal in its report.

Commenting on Nifty 50 outlook for next week, the brokerage stated, "Nifty index opened flattish and witnessed a slight breather after the rally of the last ten sessions. It witnessed slight profit booking towards the end of the week and closed with losses of around 100 points but major support levels are respected so buy on dips narrative remains firmly intact. It has moved by more than 1000 points so far in the month of September and staged a spirited comeback."

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