5 NIFTY 500 Stocks Will Trade Ex-Dividend This Week; Should You Buy?

A dividend is a sum of money distributed to shareholders from a company's profits and retained earnings. A company has the option of reinvesting retained earnings back into the business or paying out dividends to shareholders when it generates a profit.

5 NIFTY 500 stocks this week i.e. 07 -11 November will trade ex-dividend. The NIFTY 500 is India's first widely used stock market index. From the eligible base of listed companies in India, it represents the top 500 companies based on total market capitalization. On the National Stock Exchange (NSE) of India, the NSE NIFTY 500 accounts for roughly 96% of the total market capitalization and 93% of the total turnover. Here are the 5 NIFTY 500 stocks that will trade ex-dividend this week:

1. TCI Express

At its meeting on Monday, October 31, 2022, the board of directors of TCI Express Limited declared an interim dividend for the fiscal year 2022-23 at a rate of 150% i.e. Rs. 3 per equity share with a face value of Rs. 2 each to be paid to shareholders whose names will appear on the register of members on the Record Date, or Tuesday, November 8, 2022, as determined after proper consultation with the stock exchanges.

The stock's current market price on NSE is Rs 1,814.90 per share, trading 0.82% up compared to its previous close of Rs 1,800.20 per share. Today, the stock opened at Rs 1,809.25 per share. The shares have fallen 6.98% in a week, 1.52% in a month, 6.25% in 3 months and 6.52% in a year, respectively. According to the NSE, the stock was listed on 15 December 2016.

Brokerage suggests Buy

ICICI Direct in its recent report on TCI Express has recommended "buy" the stock for a target price of Rs 2,195 per share.

According to the brokerage, Asset light business, with IT-enabled owned branches, keeps the business operations at optimum levels and aligned to the company strategy of providing customised express solution to its customers. It makes TCI Express well-positioned to maintain and strengthen its leadership position among logistics peers.

2. REC Limited

At its meeting held on October 27, 2022, the board of directors of REC Limited declared an interim dividend of Rs. 5 per equity share for the fiscal years 2022-2023. The said interim dividend will also be paid/dispatched on Thursday, November 24, 2022, and the record date is Wednesday, November 9, 2022.

The current market price of the stock is Rs 100.90 on NSE, the stock opened at Rs 100.20 per share. The stock has fallen 1.56% in a week, whereas, given surged 6.1% in a month. Over a year it gave 12.2% negative returns. The stock has given negative returns of 5.74% in 3 years and 10.38% in 5 years, respectively.

3. Supreme Industries Limited

The board of directors of the company in its meeting held on 31st October 2022, a 300% interim dividend, or Rs 6 per share at a face value of Rs 2, has been declared by the company. According to the information available on BSE, "The Dividend will be payable to those Equity Shareholders whose names appear on the Register of Members as at the close of business on 9th November 2022, as per details furnished by the Depositories for this purpose."

The Current Market Price of stock is Rs 2,286 per share. On Friday, the stock last traded at Rs 2,238.80 per share on NSE. In a week, it has given a positive return of 9.89%, in a month 8.19%, whereas, in 1 year the stock has fallen, giving a negative return of 5.74%. However, in 3 and 5 years, the stock gave positive returns of 91.84% and 97.24%, respectively.

4. Tech Mahindra Limited

The Board of Directors of Tech Mahindra Declared a Special dividend of Rs. 18/- per equity share of Rs. 5/- each i.e. 360% of the face value. The Board of Directors of the company also fixed 10th November 2022 as the Record Date for determining the members entitled to receive the Special
Interim dividend.

The current market price of the stock is Rs 1,057.05 per share on NSE. The stock has given positive returns of 2.47% in a month and 045% in a week. In a year, it gave a negative return of 36.93%. However, in 3 and 5 years, it has given positive returns of 36.03% and 127.35%, respectively.

Brokerage suggests buy

ICICI Direct had a buy call on Tech Mahindra for a target price of Rs 1240 per share. The brokerage has said, "TechM's share price has grown by ~2.6x over the past five years (from ~Rs 489 in November 2017 to ~Rs 1,071 levels in November 2022). "

5. Dalmia Bharat

In its meeting held on November 2, 2022, the Board of Directors of Dalmia Bharat Ltd approved and declared an interim dividend at the rate of Rs. 4/- (200%) per equity share on 18,74,68,673 equity shares of Rs. 2/- each for the fiscal year 2022-23. The Record Date for the said dividend is on Friday, November 11, 2022, for determining shareholders' eligibility for payment of the interim dividend for the Financial Year 2022-23 was confirmed by the board and ratified.

The stock on 07 November 2022, opened at Rs 1,759 per share on NSE. It is currently trading at Rs 1,745.55 per share, 0.18% up from its previous close of Rs 1,742.50 per share. The shares surged by 9.14% in a week. Whereas, it has given positive returns of 14.63% in 1 month and 8.1% in 3 months, respectively. In a year, the stock has fallen, giving a negative return of 14.13%. Whereas, it has given a multibagger return of 111.74% in 3 years.

Disclaimer

The stock has been sourced from NSE and BSE. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.