Hindustan Zinc, 2 other stocks to go ex-dividend; TechM, L&T, GAIL, PNB, Mazagon Q3 results today
Shares of Hindustan Zinc, Banaras Beads and 360 One Wam will turn ex-dividend on Monday. Larsen & Toubro (L&T), Tech Mahindra (TechM), Bajaj Finserv, GAIL, PNB, BPCL, Laurus Labs and Mazagon Dock Shipbuilders are among dozen companies that will disclose their December quarter results today. Others included Exide Industries, Nippon Life India Asset Management, Inox Leisure and CSB Bank.
The boards of REC, SRF, IIFL Finance, Orient Electric, Transport Corporation of India, Greenpanel Industries would consider declaring dividend payments, along with their quarterly results today.
Hindustan Zinc had announced an interim dividend of Rs 13 for FY23. The stock with go ex-dividend today. Monday is also the record date wherein the company will identify dividend beneficiaries, whose name will
appear on the register of members or in records of depositories as beneficial owners of the shares, as on the closure of business hours. The dividend will be paid on February 18.
In the case of Banaras Beads, the company board had announced an interim dividend of Rs 2 per share. Monday is also the record date for the dividend . The payment of interim dividend will be made on or before February 15.
The board of 350 One Wam had announced an interim dividend of Rs 17 and that the stock will turn ex-dividend today. The record date for the dividend payment too is Monday.
Among the big results, HDFC Institutional Equities expects L&T to report a 12.2 per cent YoY rise in adjusted net profit at Rs 2,306 crore for the December quarter on a 12.5 per cent YoY rise in sales at Rs 44,510 crore. It sees Ebitda rising 11.9 per cent YoY to Rs 5,070 crore. Ebitda margin is seen contracting to 11.4 per cent, down 560 basis points.
In the case of Tech Mahindra, Emkay Global expects profit rising 14.1 per cent YoY to Rs 3,927.60 crore on a 17.5 per cent YoY rise in sales at Rs 26,246 crore. Ebitda margin is seen at 23 per cent. Emkay expects a 0.5 per cent sequential growth in dollar revenue with cross-currency headwinds of 30bps.
“We expect broadly similar growth across the enterprise business and communications in Q3. We expect EBIT margin to expand by 100bps sequentially on account of absence of one-off impairment costs, operating efficiencies, pricing, and rupee depreciation,” it said.
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