Upcoming Dividend, Stock Split, Bonus Issue Next Week, 27-31 Oct: Infosys, Coforge, L&T, Laurus Labs, More

Upcoming Dividend, Stock Split, Bonus Issue: The Indian stock market remained largely range-bound last week, as the festive season sentiment combined with ongoing corporate results influenced investor behaviour. As we head into a new week and approach the end of November, attention will shift to companies such as Infosys, Coforge, L&T, Laurus Labs, and Modern Insulators due to upcoming dividends, stock splits, and bonus issues.

BSE Sensex closed at 84,211 points after making a weekly gain of nearly 0.41%; likewise, Nifty 50 closed at 24,795 points, after making a minor weekly loss of 0.32%. The Indian stock market is likely to react to the upcoming US Fed meeting and macroeconomic data indicators, and other factors, as well.

"Sectoral trends showed pronounced selling pressure, particularly in Nifty Private Banks, PSU Banks, and Healthcare stocks. In contrast, select sectors such as Nifty Metal, Realty, and Oil & Gas managed to close in positive territory, helping to partly curb the market's overall decline. The broader market also mirrored the cautious sentiment, with the Nifty Midcap 100 index falling 0.24%, while the Smallcap index edged lower by 0.21%, indicating widespread profit-taking across segments," stated Bajaj Broking in its market commentary.

Upcoming Dividends: Infosys, Laurus Labs, L&T, More

360 One Wam Limited, Infosys, Laurus Labs, L&T Technologies, REC, Coforge, Laurus Labs Limited, PDS Limited, etc, have fixed their dividend record date for the coming week.

Upcoming Stock Split

KSE Limited has fixed October 28 as the stock split record date. The company, earlier, had announced a stock split in the ratio of 10 to 1.

Stock Market Outlook

The Indian stock market is likely to see a short-term consolidation in the near term as Nifty 50 is currently hovering in the overbought territory, as per experts' technical outlook. "We anticipate the index to trade within the 25,600-26,100 range to cool off overbought conditions, while a decisive break above 26,100 could open the door for an up move toward 26,500 in the coming weeks. On the downside, the 25,500-25,700 zone is expected to act as a strong support area, backed by the 38.2% Fibonacci retracement of the recent rally (24,587-25,782) and the previous breakout zone. Any dips toward this range can be viewed as buying opportunities," noted Bajaj Broking in its commentary.

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