Diligent Industries shares will also go ex-split from face value of Rs 5 to face value of Rs 1. This company had announced a stock split in 2015 as well.
In a stock split, existing shares split but the underlying value remains the same. As the number of shares increases, price per share goes down. A stock split is generally done to infuse liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices.
On the other hand, Schaeffler India will go ex-dividend today. The company had announced a final dividend of Rs 16 per share. The record date for the same is April 21. IDFC will also go ex-dividend today. This NBFC had announced an interim dividend of Re 1.
Tuesday would also see companies like L&T Infotech, ACC and Mastek announcing their March quarter earnings. Orient Green Power Company will have a board meeting on rights issue and Rama Steel Tubes and Leena Consultancy on preferential issue of shares.