6 Stocks Set for Buybacks, Bonus, Stock Splits & Preferential Issue

It’s a time of the season where boards are meeting to declare bonus issues, stock splits, preferential issues and buyback of shares. Here is a list of companies that are planning to declare the same at their forthcoming board meets.
It’s important to remember that the boards are meeting and while the agenda is fixed the final outcome of the board meeting will decide the outcome. Normally, when the boards meet they tend to declare the same as per the agenda. Apart from this many company boards are also slated to declare the interim dividends as well. It’s also pertinent to note as soon as the board meeting is announced for a particular purpose the stocks tend to move higher, so after the declaration there is a possibility that we might see the stock move lower.
Markets continue to move in the green
Meanwhile, domestic equities had a strong day on back of robust service PMI data across countries. India’s Service PMI surged to 12 month high for the month of Feb at 59.4. “Nifty opened gap up and traded higher throughout the session on back of pre-festive mood to close with gains of 117 points (+0.7%) at 17711 levels. Except PSU Banks and Realty, all sectors ended in green. Tomorrow markets will remain shut on account of Holi. Market has recovered well with Nifty gaining 2% over the last two trading session, showing renewed strength. India VIX too has fallen from 15 zones to 12 levels, thus supporting the positive sentiments. We expect this momentum to continue in the near term supported by positive global cues,” says Siddhartha Khemka of Motilal Oswal.
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