Cochin Shipyard Ex-Split, Grasim Industries, Sharanam Infraproject Ex-Rights Today

Cochin Shipyard Initiates Stock Split

Cochin Shipyard has declared a stock split, reducing the face value of its equity shares from ₹10 to ₹5 each. The record date for this split has been set for 10 January 2024. It means that existing shareholders will now hold two fully paid-up equity shares for every one they previously held. Cochin Shipyard's shares are set to trade ex-split starting Wednesday.

Grasim Industries' Rights Issue

Grasim Industries has taken a strategic step to raise funds through a rights issue of equity shares. The record date for this rights issue is also 10 January 2024. In a board meeting held on 16 October 2023, the company approved the issuance of 2.20 crore rights equity shares, with a total issue size of ₹3,999.80 crore.

Shareholders will be entitled to purchase these rights equity shares at a price of ₹1,812 per share when fully paid-up. Grasim Industries' shares will trade ex-rights from Wednesday onward. Rights issue is designed with a ratio of six shares for every 179 shares owned by shareholders as of the record date, which is set for 10 January 2024. Subscription window for participating in the issue is open from 17 January to 29 January.

Sharanam Infraproject and Trading Rights Issue

Sharanam Infraproject and Trading have announced a rights issue of equity shares, with the record date coinciding with 10 January 2024. As per regulations, eligible shareholders will receive 7 rights equity shares with a face value of ₹1.00 each for every 5 fully paid-up equity shares held. Sharanam Infraproject and Trading's shares will trade ex-rights starting Wednesday.

Key Dates Recap

Cochin Shipyard: Record date for stock split - 10 January 2024, Shares to trade ex-split on Wednesday.
Grasim Industries: Record date for rights issue - 10 January 2024, Shares are to trade ex-rights on Wednesday.
Sharanam Infraproject and Trading: Record date for rights issue - 10 January 2024, Shares to trade ex-rights on Wednesday.

Final Words

As of December 10, Cochin Shipyard's stock has gone up by 7.24%, reaching ₹717.45. Meanwhile, Grasim Industries is trading slightly lower, down by 0.43% from the previous close. Sharanam Infraproject and Trading, however, saw a notable drop of 10.34%, with the current trading price at ₹1.30.