3 Stocks Set To Announce Bonus And Stock Splits This Week

The Nifty opened flat and continued to remain in negative territory throughout the session to close with a loss of 41 points at 17619 levels on Wednesday. Sectorially it was a mixed bag with IT continuing to remain under pressure. However, traction is seen in specialty chemicals on account of attractive valuation and the expectation of improved export demand. Rice-producing companies rallied today after a report by research agency Fitch Solutions said that the global market was to log its biggest shortfall in two decades this year in rice.

"Nifty after gaining nine consecutive trading sessions, has now been consolidating below the 17800 zones for the last 3 days. Even FIIs have turned net sellers and have added to the overall weakness. For now, the market is stuck in a narrow range due to a lack of major triggers. There is some action seen in the broader market with niche sector-specific momentum. We expect further momentum in pharma, specialty chemicals, sugar, rice and realty to continue over the next few days," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd said.

Stocks with bonus and stock splits to be announced this week

Several companies have lined-up board meetings to declare bonus, stock splits and dividends for shares. Here are 3 companies that are set to announce bonus and stock split of shares.

1) K&R Rail Engineering
The company's board is slated to meet later today to declare a bonus issue of shares. The bonus ratio would be known today and also the book closure date. The shares of K&R Rail Engineering were last seen trading at Rs 368.

2) Ion Exchange

The board of Ion Exchange too is slated to meet today, but, this would be largely for a stock split. The company is a pioneer of water treatment in India. It was formed in 1964, as a subsidiary of the Permutit Company of UK, Ion Exchange became a wholly Indian company in 1985 when Permutit divested their holding.

3) Family Care Hospital

This stock too would be declaring a bonus issue, subject to approval of the board of directors. The shares of the company were last seen trading at Rs 11.90 on the Bombay Stock Exchange.