Companies Set To Announce Bonus & Stock Splits In April, Check Dates

It was a good week for the markets, even as the week saw expiry for the Futures & Options segment. April may be volatile as we have the RBI Monetary Policy for next week. Here are some companies that are set to declare bonus and stock splits in April, 2023.

Globe Commercials

The board of Globe Commercials will meet on April 5 to consider a stock split. "The Board of Directors is scheduled to be held on 5th April, 2023, at 11.00 A.M. for considering and approving approve the sub-division/split of equity shares face value of Rs.10/- each into equity share of face value of Rs.1/- each," the company said in a release. The stock was last trading at Rs 47.99 on the BSE.

Family Care Hospitals

The company said that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 20th April, 2023, to consider, discuss, recommend and approve Issue of Bonus shares to the equity shareholders of the Company. The shares of Family Care Hospitals was last seen trading at Rs 11.24 on the NSE.

Markets will remain volatile

Meanwhile, domestic indices ended the last day of the month on optimistic note led by rally in global markets and FIIs turning net buyers. Sharp decline in India VIX from recent high of 17 zones to 12.8 levels, too supported the markets. Nifty opened gap up and continuously strengthen throughout the session to close with handsome gains of 279 points (+1.6%) at 17360 levels.

"Valuation too has come off substantially from 24x 1-year forward P/E in Oct'21 to 17x currently (v/s 20x long period average), offering moderate margin of safety. In the near term, focus will now remain on RBI's policy meeting next week, where 25-bps rate hike is expected in line with the hikes done by major global central banks. Apart from this, markets will also react to monthly Auto sales number data that will be released over the weekend," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.