TCS turns ex-dividend from Monday

Activity around TCS may get tempered on the bourses as the stock turns ex-dividend on Monday. TCS had announced a dividend of ₹45 per share, which will be paid out in August. This includes a special dividend of ₹40 per share on account of the 10th anniversary of the company going public. Earlier this month, TCS paid out a dividend, announced in June, of ₹20 a share. Those who buy the stock from July 28 will not get the payout, as it fixed July 30 as the record date.

Axis Bank stock split from Monday

Don’t be shocked if shares of Axis Bank rule around ₹400 on Monday. This is because the bank has fixed Monday as ex-date, which means the stock will start trading at post split prices. The stock on Friday closed at ₹1,986.75 on the NSE. Axis Bank has fixed July 30 as the record date to identify the eligible shareholders to receive 5 equity shares of ₹2 each for every one equity share of ₹10. The split will make the stock affordable for retail participants.

Weak performance may impact Advanta

Hybrid seed manufacturer Advanta, after market hours on Friday, reported a 52 per cent decline in consolidated net profit at ₹15.15 crore from the year-ago figure of ₹31.71 crore. Sales were down 5.3 per cent to ₹295 crore (₹310.81 crore) as seed sales have been slow due to subdued monsoon. An exceptional cost of ₹5.58 crore related to overseas operations had an impact on the company’s profits. Shares of Advanta may react negatively to this numbers.