Monthly Corporate Action Tracker - Dossier of key corporate actions in February, 2018

Analysts Name:

Amit Gupta Bharat Chhoda Cheragh Sidhwa [email protected] [email protected] [email protected]

February 15, 2018 DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

2 Companies that are likely to pay dividend in February 2018

Announced dividend

Company Dividend Face value Dividend Dividend Yield (%) (|) (|/share) (%) Ex-date Natl. Aluminium 94 5.00 4.7 6.3 16/02/2018 MOIL, , HPCL, BPCL, Hexaware Tech. 50 2.00 1 0.3 16/02/2018 Cummins India and REC have a 250 1.00 2.5 0.8 16/02/2018 consistent dividend yield record MOIL 30 10.00 3 1.3 16/02/2018 over last three years Sun TV Network 50 5.00 2.5 0.3 16/02/2018 Alkem Lab 300 2.00 6 0.3 16/02/2018 Gulf Oil Lubric. 200 2.00 4 0.4 16/02/2018 100 1.00 1 0.2 20/02/2018 Manappuram Fin. 25 2.00 0.5 0.5 20/02/2018 Granules India 25 1.00 0.25 0.2 20/02/2018 80 10.00 8 0.8 20/02/2018 Oil India 140 10.00 14 3.9 21/02/2018 SJVN 19 10.00 1.9 5.2 21/02/2018 Sudarshan Chem. 125 2.00 2.5 0.6 22/02/2018 B P C L 140 10.00 14 3.0 22/02/2018 H P C L 145 10.00 14.5 3.7 28/02/2018 Source: Capitaline, ICICIdirect.com Research

3 Companies that are likely to pay dividend in February 2018

Probable dividend Probable dividend

Company Dividend Face value Dividend Dividend Yield Last Years Company Dividend Face value Dividend Dividend Yield Last Years (%) (|) (|/share) (%) Ex-date (%) (|) (|/share) (%) Ex-date Zensar Tech. 50 10.00 5 0.6 2/2/2017 GE Shipping Co 36 10.00 3.6 1.0 14/02/2017 100 2.00 2 0.9 2/2/2017 Redington India 100 2.00 2 1.9 14/02/2017 JM Financial 65 1.00 0.65 0.9 2/2/2017 125 2.00 2.5 0.5 16/02/2017 GAIL (India) 85 10.00 8.5 2.4 2/2/2017 Bosch 750 10.00 75 0.3 16/02/2017 Ashoka Buildcon 16 5.00 0.8 0.4 2/2/2017 Minda Inds. 60 2.00 1.2 0.3 16/02/2017 VRL Logistics 40 10.00 4 1.3 2/2/2017 Balkrishna Inds 100 2.00 2 0.3 17/02/2017 1000 10.00 100 0.6 6/2/2017 Edelweiss.Fin. 100 1.00 1 0.8 17/02/2017 O N G C 45 5.00 2.25 1.2 7/2/2017 Solar Inds. 100 2.00 2 0.3 20/02/2017 Motil.Oswal.Fin. 250 1.00 2.5 0.4 8/2/2017 AIA Engg. 200 2.00 4 0.3 21/02/2017 GHCL 15 10.00 1.5 0.6 9/2/2017 Indo Count Inds. 20 2.00 0.4 0.2 22/02/2017 Torrent Pharma. 200 5.00 10 0.8 10/2/2017 DCM Shriram 140 2.00 2.8 1.0 22/02/2017 Dr Lal Pathlabs 13 10.00 1.3 0.1 13/02/2017 Suprajit Engg. 50 1.00 0.5 0.2 22/02/2017 Carborundum Uni. 100 1.00 1 0.4 14/02/2017 CESC 100 10.00 10 1.2 23/02/2017

Source: Capitaline, ICICIdirect.com Research Source: Capitaline, ICICIdirect.com Research

4 DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

5 Board meetings scheduled in February 2018

Key Highlights

FDC, Balrampur Chini are holding board meetings to decide about buy back, while Sanwaria Consumer is holding a meeting to decide on preferential issue

Board meetings in February 2018

Company Name Meeting Date Board Meeting purpose FDC 15/02/2018 Buy Back Vesuvius India 15/02/2018 Accounts,Dividend 16/02/2018 Accounts Ambuja Cem. 20/02/2018 Accounts,Dividend Huhtamaki PPL 20/02/2018 Quarterly Results,Dividend Mahindra CIE 20/02/2018 Quarterly Results Sanwaria Consum. 20/02/2018 Employee Stock Option,Preferential Issue Balrampur Chini 21/02/2018 Buy Back Merck 22/02/2018 Accounts,Dividend India 22/02/2018 Accounts,Final Dividend TVS Motor Co. 26/02/2018 Dividend Elantas Beck 27/02/2018 Accounts Renaissance Jew. 27/02/2018 Others Stovec Inds. 27/02/2018 Accounts,Final Dividend Rain Industries 28/02/2018 Quarterly Results Source: Capitaline, ICICIdirect.com Research

6 DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

7 Corporate actions announced in February 2018

Stock Split

Face value before Face value after Company Name Ratio split split Record date Phillips Carbon 5:1 10 2.0 NA India Nipp.Elec. 2:1 10 5.0 NA Citurgia Biochem 5:1 10 2.0 16/02/2018 Source: Capitaline, ICICIdirect.com Research

Ongoing open offer

Offer Start Offer Close Offer Price Proposed Acquisition Proposed Acquisition Company Date Date (|) (No. of shares in crore) (% Capital) KPIT Tech. 26/03/2018 10/4/2018 182 5.1 26.0 Source: Capitaline, ICICIdirect.com Research

Buyback

Company name Buyback (No. of shares in lakh) % of Capital Offer Close date Orbit Exports 4.4 1.5 26/02/2018 Aarti Drugs 2.8 1.2 28/02/2018 SJVN 2068.3 5 28/02/2018

Source: Capitaline, ICICIdirect.com Research

8 DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

9 Major stakeholder’s activity seen in January 2018

Major stakeholder’s activity in January 2018

Company No of shares Bought/Sold Total Equity Net change % of total (In lakhs) (In lakhs) (%) Piramal Enterp. 25.3 1803.0 1.4 Techno Elec. 21.9 1126.8 1.9 Sunteck Realty 7.1 1463.2 0.5 NCC 104.1 5559.3 1.9 Ujjivan Fin.Ser. 21.7 1207.0 1.8 Welspun India -502.4 10047.3 -5.0 India -125.0 6251.5 -2.0 Gayatri Projects -104.9 1772.5 -5.9 8K Miles -6.8 305.2 -2.2 Source: Capitaline, ICICIdirect.com Research

Key Highlights

 East Bridge Capital Master Fund purchased 25.3 lakh shares (1.4%) of Piramal Enterprise  SBI Mutual Fund purchased 21.9 lakh shares (1.9%) of Techno Electric & Engineering  Sundaram Mutual Fund purchased 104.1 lakh shares (1.9%) of NCC Ltd  MGN Agro Properties (promoter) sold 502.4 lakh shares (5.0%) of Welspun India  Vinod Gupta & Surjit Kumar Gupta (promoters) sold 125 lakh shares (2.0%) of Havells India

Source: Capitaline, ICICIdirect.com Research DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

11 Major stakeholder’s activity and preferential allotment in January 2018

The momentum relating to raising money through preferential allotment appears to be lower in January 2018 as 20 companies raised capital through this route compared to an average of about 32 companies in Q4CY17. Among the major preferential allotment was Amazon investing in Shoppers Stop.

Preferential allotment in January 2018

Company No.of Eq. Shares Face Value Issue Price Issued To Issued Category Date of allotment (in crore) (|) (|) ITD Cem 1.66 10 202.6 NA QIP 30/01/2018 0.57 2 277.3 NA QIP 25/01/2018 Munjal Showa 6.43 2 1726.1 NA NA 13/01/2018 NCC 4.47 2 123.0 NA QIP 30/01/2018 Control Print 0.07 10 455.0 NA QIB 8/1/2018 Shoppers St. 0.44 5 407.8 Amazon.com NV Investment Holdings LLC . QIP 12/1/2018 3i Infotech 26.39 10 0.0 Srei Multiple Asset Investment Trust NA 15/01/2018 Tube Investments 0.04 10 0.0 TI Tsubamex Pvt Ltd NA 17/01/2018 Source: Capitaline, ICICIdirect.com Research DealCorporate Team Action– At Your Tracker Service- February 2018

1 Announced/Probable dividend

2 Board meetings for February 2018

3 Stock split, open offer and buyback of shares for February 2018

4 Major stakeholder’s activity in January 2018

5 Preferential allotment in January 2018

6 Historical trends of corporate actions

13 DealHistorical Team trend – ofAt rights Your and Service bonus issues

Number of rights issues- CNX 500 Number of bonus issues- CNX 500

9 8 8 35 28 29 8 7 7 30 7 6 25 6 5 5 5 20 17 16 5 14 4 12 12 15 10 8 3 2 10 2 1 5 0 0 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17

Number of rights Issue… Number of Bonus Issues

Key Highlights

 Of the CNX 500 companies, rights issue has gained as a method for raising capital with seven companies raising funds to the tune of | 4780 crore through rights issue in CY17 compared to two companies raising funds of | 910 crore in CY16  Total 29 companies have announced bonus issue in CY17 compared to 16 companies in CY16

Source: Capitaline, ICICIdirect.com Research

14 DealHistorical Team trend – ofAt stock Your splits Service and dividend payouts

Number of stock splits- CNX 500 Average dividend payout ratio (%) for CNX 500

40.0 36.5 45 39 35.0 30.5 40 28.1 35 30.0 24.7 26.0 22.6 23.3 21.8 23.0 30 25.0 20.0 25 18 20.0 20 13 15 15 11 12 10 15.0 10 7 6 10.0 5 5.0 0 0.0 CY09 CY10 CY011 CY12 CY13 CY14 CY15 CY16 CY17 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17

Number of stock Split Dividend Payout Ratio

Key Highlights

 Post the implementation of new 10% dividend tax, companies are opting for share buybacks over dividends. Average dividend payout ratio has been on a downward trend with the ratio declining from 36.5% in FY15 to 23% in FY17  Total 10 companies have announced stock split in CY17 compared to 15 companies in CY16

Source: Capitaline, ICICIdirect.com Research

15 Pankaj Pandey Head – Research [email protected] ICICIdirect.com Research Desk, ICICI Securities Limited, 1st Floor, Akruti Trade Centre, Road no.7, MIDC Andheri (East) Mumbai – 400 093 [email protected]

16 Disclaimer

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