Shares of Lovable Lingerie may come under pressure going forward, as the stock turns ex-dividend from Wednesday. The company has recommended an interim dividend of ₹12.5 a share of ₹10 each for financial year 2014-15. Those who buy the shares from Wednesday will not be eligible to receive the dividends. The shares on Tuesday rallied to a life-time high of ₹437.8, before settling at ₹429.8, a gain of 6.85 per cent over Monday’s closing price of ₹402.25.
Karur Vysya Bank QIP issue in focus
Karur Vysya Bank will remain in focus at the bourses, as the bank fixed the floor price at ₹461.70 for the proposed qualified institutional placement. The board also approved the opening of the QIP from Tuesday. The private sector bank, last year, received approval from the board and then from the shareholders to raise up to ₹1,000 crore through a QIP to fund its expansion plan. The stock, in which FIIs hold 24.97 per cent stake, closed at ₹469.5 on Tuesday.
Expansion plans to keep Gallant Ispat in focus
The stock of Gallant Ispat will remain in focus on Wednesday as its board meets to consider an expansion plan of the units. According to its website, the company plans to increase the capacity of its steel unit at Gorakhpur. It has reported a profit of ₹10.33 crore on revenues of ₹121.39 crore for the quarter ended June. The group manufactures various kinds of iron and steel products including sponge iron, pig iron and billets. It also operates a captive power plant.