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Shares of Asahi Songwon Colours will remain in focus, as the company has fixed Monday as ex-date for the proposed demerger. The scheme envisages demerger of the pigment green division of Asahi Songwon to AksharChem (India) Ltd. The swap ratio would be five equity shares of AksharChem (India) of ₹10 each fully paid-up for every 26 equity shares of Asahi Songwon Colors. AksharChem has fixed the ex-date as February 3 for the scheme of arrangement.
Auto sales will reflect excise duty impact
Sale of cars, SUVs and two-wheelers in January will reveal the impact of the curtailment of excise duty cut. With the government not extending the reduced excise duty from January 1, almost all firms have raised prices. To boost the auto sector, the previous UPA Government had cut excise duty in the interim Budget in February. Shares of Maruti Suzuki, M&M, Tata Motors, Escorts, Hero MotoCorp, Bajaj Auto and TVS Motor will move in tune with the sales numbers.
Poly Medicure turns ex-split on Monday
Shares of Poly Medicure will turn ex-split on Monday. The company has decided to reduce the current face value of the stock from ₹10 to ₹5. That means the stock, which is currently hovering near ₹1,000 apiece, will start trading in the range of ₹490-510 on Monday. Those buying the shares on Monday will not receive the benefit of the stock split. About 2,800 individual shareholders own 13.24 per cent stake in the company. Of them, just 43 control 9 per cent stake.
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