-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
Research Analyst
Monthly Corporate Action Tracker
Dossier of key corporate actions in December, 2020
Raj Deepak Singh Bharat Chhoda Cheragh Sidhwa
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
2
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
3
Companies likely to pay dividend in December 2020
Announced dividend
Probable dividend
Source: Capitaline, ICICI Direct Research.
Source: Capitaline, ICICI Direct Research.
Company Dividend Face value Dividend Dividend Yield Ex-date
(%) (|) (|/share) (%)
Hind.Aeronautics 150.0 10.00 15.0 1.7 17/12/2020
East West Holdin 0.5 10.00 0.1 0.1 17/12/2020
Jai Corp 50.0 1.00 0.5 0.5 18/12/2020
Brightcom Group 2.5 2.00 0.1 1.0 18/12/2020
Anant Raj 4.0 2.00 0.1 0.3 22/12/2020
R C F 28.4 10.00 2.8 5.4 22/12/2020
Bambino Agro Ind 16.0 10.00 1.6 0.7 22/12/2020
G M D C 100.0 2.00 2.0 4.0 22/12/2020
Company Dividend Face value Dividend Dividend Yield Ex-date
(%) (|) (|/share) (%)
Borosil Renew. 65.00 1.00 0.65 1.6 18/12/2019
Nestle India 550.00 10.00 55 0.4 10/12/2019
Ingersoll-Rand 250.00 10.00 25 3.8 30/12/2019
Heidelberg Cem. 15.00 10.00 1.5 0.8 05/12/2019
Cholaman.Inv.&Fn 50.00 2.00 1 0.3 23/12/2019
Redington India 75.00 2.00 1.5 1.4 03/12/2019
R Systems Intl. 150.00 1.00 1.5 2.1 20/12/2019
Bharti Infratel 27.50 10.00 2.75 1.1 19/12/2019
Bharat Road 5.00 10.00 0.5 0.8 05/12/2019
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
4
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
5
Board meetings scheduled in December 2020
Board meetings in December 2020
Source: Capitaline, ICICI Direct Research
Company name Meeting date Board meeting purpose
Shiva Cement 14/12/2020 EGM,Preferential Issue
Karda Construct. 15/12/2020 Private Placement Basis,Others
Majesco 15/12/2020 Interim Dividend
Spandana Sphoort 15/12/2020 Raising funds through Debt Instr.
Enkei Wheels 16/12/2020 Others
Future Enterp. 16/12/2020 Quarterly Results
PG Electroplast 16/12/2020 Raising funds through Debt Instr.
Anisha Impex 17/12/2020 Others
Prabhat Tech. 17/12/2020 Quarterly Results,Accounts
Chemcon Special. 21/12/2020 Others
Rajapalayam Mill 21/12/2020 Others
Vertoz Advertis. 22/12/2020 Stock Split
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
6
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
7
Corporate actions announced in December 2020
Bonus issue
Tender Buyback
Source: Capitaline, ICICI Direct Research
Stock Split
Source: Capitaline, ICICI Direct Research
Source: Capitaline, ICICI Direct Research
Face value before Face value after
Company Name Ratio split split Record date
APL Apollo Tubes 5:1 10.0 2.0 16/12/2020
SVP Global 10:1 10.0 1.0 NA
Company Name Ratio Ex Bonus Date Record date
Vishal Fabrics 1:2 16/12/2020 17/12/2020
Company No of shares Offer Opening Offer Closing
(in crores) Buyback Price Date Date
TCS 5.3 3000 18-12-2020 01-01-2021
Asahi Songwon 0.0 330 10/12/2020 23/12/2020
NTPC 19.8 115 07/12/2020 18/12/2020
Ajanta Pharma 0.1 1850 03/12/2020 16/12/2020
KIOCL 1.4 110 01/12/2020 14/12/2020
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
8
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
9
Major stakeholder’s activity seen in November 2020
Major stakeholder’s activity in November 2020
Key Highlights
MN Ventures (promoter) purchased 112.5 lakh shares (0.9%) of HFCL
Investment Opportunities V Pte. purchased 10.2 lakh shares (0.6%) of
Aditya Birla Sun Life AMC purchased 38.0 lakh shares (0.6%) of Crompton Gr. Con.
Smallcap World Fund sold 53.8 lakh shares (2.3%) of Greaves Cotton
Arisaig India Fund sold 72.8 lakh shares (2.0%) of Trent
Moneyline Portfolio Investments sold 60.2 lakh shares (2.2%) of Max Financial
HDFC Asset Management Company sold 198.3 lakh shares (2.1%) of Tata Steel
HDFC Asset Management Company sold 67.7 lakh shares (2.0%) of Aarti Industries
Aditya Birla Sun Life AMC sold 6.0 lakh shares (2.0%) of CARE Ratings
Morgan Stanley Asia Singapore sold 75.8 lakh shares (1.7%) of Indiabulls Real Estate
Source: Capitaline, ICICI Direct Research
Company No of shares Bought/Sold Total Equity Net change % of total
(In lakhs) (In lakhs) (%)
HFCL 112.5 12843.8 0.9
PNB Housing 10.2 1681.9 0.6
Crompton Gr. Con 38.0 6273.6 0.6
Greaves Cotton -53.8 2312.1 -2.3
Trent -72.8 3554.9 -2.0
Max Financial -60.2 3450.3 -2.2
Tata Steel -198.3 11264.9 -2.1
Aarti Industries -67.7 1742.3 -2.0
CARE Ratings -6.0 294.6 -2.0
Indbull.RealEst. -75.8 4546.6 -1.7
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
10
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
11
Preferential allotment in November 2020
On a month on month (MoM) basis, the momentum related to raising money (in terms of number of companies) through preferential allotment
improved in November 2020. Total 20 companies raised capital through the preferential allotment route in November 2020 compared to 16
companies in October 2020. RBL Bank, CG Power and Industries, Inox Leisure, Bharti Infratel and Tube Investments were among the major
companies that raised capital through preferential allotment in November 2020. Overall, preferential allotment has declined as a funding route
over CY17-19. For full year CY18, 223 companies had raised capital through preferential allotment compared to 243 companies in CY17 and
142 companies for CY19. For YTD CY20 (up to November) , 134 companies have raised capital through preferential allotment.
Preferential allotment in September 2020
Source: Capitaline, ICICI Direct Research
Company No.of Eq. Shares Face Value Issue Price Issued To Issued Category Date of allotment
(in crore) (|) (|)
CG Power & Indu. 64.25 2 8.56 Tube Investments of India Ltd NA 26/11/2020
Tilaknagar Inds. 0.24 10 24.36 EARC Trust SC233 Non Promoter 13/11/2020
Tilaknagar Inds. 0.56 10 24.36 EARC Trust SC241 Non Promoter 13/11/2020
Tilaknagar Inds. 0.60 10 24.36 EARC Trust SC269 Non Promoter 13/11/2020
HLE Glascoat 0.01 10 1385 Malabar India Fund Ltd NA 03/11/2020
RBL Bank 8.85 10 177 Maple II B.V. NA 12/11/2020
Inox Leisure 0.98 10 255 NA QIBs 12/11/2020
Artemis Medicare 0.07 10 0 Devlina Chakravarty Managing Director 05/11/2020
Bharti Infratel 8.75 10 0 Asia Holding Investments NA 19/11/2020
Bharti Infratel 75.78 10 0 Vodafone group NA 19/11/2020
Tube Investments 0.05 1 731.7 SBI Magnum Midcap Fund NA 26/11/2020
Tube Investments 0.15 1 731.7 SBI Mutual Fund NA 26/11/2020
Tube Investments 0.27 1 731.7 Azim Premji Trust NA 26/11/2020
Tube Investments 64.25 2 8.56 CG Power and Industrial Solutions Ltd NA 26/11/2020
Dhanvarsha Finv. 0.09 10 111.3 NA Promoter 03/11/2020
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
12
Corporate Action Tracker - December 2020
Preferential allotment in November 2020
2
3
4
5
Board meetings for December 2020
Major stakeholder’s activity in November 2020
Buyback, bonus and stock split for December 2020
Announced and Probable dividend1
Historical trends of corporate actions6
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
13
Historical trend of rights and bonus issues
Number of rights issues- CNX 500 Number of bonus issues- CNX 500
Key Highlights
Of the CNX 500 companies, three used the rights issue method to raise capital in CY19 compared to five in CY18
Total 16 companies had announced bonus issue in CY19 compared to 20 in CY17
Source: Capitaline, ICICI Direct Research
6
8 8
5 5
7
5
2
7
5
3
9
0
2
4
6
8
10
CY09
CY10
CY11
CY12
CY13
CY14
CY15
CY16
CY17
C
Y18
C
Y19
CY20 (U
pto N
ov
2020)
Number of rights Issue (CNX 500 Companies)
8
28
1412 12
10
1716
29
20
16
4
0
5
10
15
20
25
30
35
CY09
CY10
CY11
CY12
CY13
CY14
CY15
CY16
CY17
CY18
CY19
CY20 (upto
Nov 2020)
Number of Bonus Issues
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
14
Historical trend of stock splits and dividend payouts
Number of stock splits- CNX 500 Average dividend payout ratio (%) for CNX 500
Key Highlights
Source: Capitaline, ICICI Direct Research
Four companies had announced a stock split in CY19 compared to eight in CY18
11
39
18
7 6
12 1315
108
46
0
5
10
15
20
25
30
35
40
45
CY09
CY10
CY011
CY12
CY13
CY14
CY15
CY16
CY17
CY18
CY19
CY20 (U
pto N
ov
2020)
Number of stock Split
31.9
36.2 36.1 35.838.2
35.7
40.6
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
FY14 FY15 FY16 FY17 FY18 FY19 FY20
Dividend Payout Ratio
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
15
Pankaj Pandey Head – Research [email protected]
ICICI Direct Research Desk,
ICICI Securities Limited,
1st
Floor, Akruti Trade Centre,
Road no.7, MIDC
Andheri (East)
Mumbai – 400 093
-
ICIC
I S
ecurit
ies –
Retail E
quit
y R
esearch
MO
ME
NT
UM
PIC
K
16
ANALYST CERTIFICATION
I/We, Raj Deepak Singh B.E, MBA (Finance), Bharat Chhoda, MBA and Cheragh Sidhwa, MBA Research Analysts, authors and the names subscribed to this report, hereby certify that all of the views expressed in this research reportaccurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.Analysts are not registered as research analysts by FINRA and are not associated persons of the ICICI Securities Inc. It is also confirmed that above mentioned Analysts of this report have not received any compensation from thecompanies mentioned in the report in the preceding twelve months and do not serve as an officer, director or employee of the companies mentioned in the report.
Terms & conditions and other disclosures:
ICICI Securities Limited (ICICI Securities) is a full-service, integrated investment banking and is, inter alia, engaged in the business of stock brokering and distribution of financial products. ICICI Securities Limited is a Sebi registered
Research Analyst with SEBI Registration Number – INH000000990. ICICI Securities Limited Sebi Registration is INZ000183631 for stock broker. ICICI Securities is a subsidiary of ICICI Bank which is India’s largest private sector bank and has
its various subsidiaries engaged in businesses of housing finance, asset management, life insurance, general insurance, venture capital fund management, etc. (“associates”), the details in respect of which are available on
www.icicibank.com
ICICI Securities is one of the leading merchant bankers/ underwriters of securities and participate in virtually all securities trading markets in India. We and our associates might have investment banking and other business relationship with
a significant percentage of companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities
or derivatives of any companies that the analysts cover.
Recommendation in reports based on technical and derivative analysis centre on studying charts of a stock's price movement, outstanding positions, trading volume etc as opposed to focusing on a company's fundamentals and, as such,
may not match with the recommendation in fundamental reports. Investors may visit icicidirect.com to view the Fundamental and Technical Research Reports.
Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
ICICI Securities Limited has two independent equity research groups: Institutional Research and Retail Research. This report has been prepared by the Retail Research. The views and opinions expressed in this document may or may not
match or may be contrary with the views, estimates, rating, target price of the Institutional Research.
The information and opinions in this report have been prepared by ICICI Securities and are subject to change without any notice. The report and information contained herein is strictly confidential and meant solely for the selected recipient
and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities. While we would endeavour to
update the information herein on a reasonable basis, ICICI Securities is under no obligation to update or keep the information current. Also, there may be regulatory, compliance or other reasons that may prevent ICICI Securities from
doing so. Non-rated securities indicate that rating on a particular security has been suspended temporarily and such suspension is in compliance with applicable regulations and/or ICICI Securities policies, in circumstances where ICICI
Securities might be acting in an advisory capacity to this company, or in certain other circumstances.
This report is based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed. This report and information herein is
solely for informational purpose and shall not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. Though disseminated to all the customers
simultaneously, not all customers may receive this report at the same time. ICICI Securities will not treat recipients as customers by virtue of their receiving this report. Nothing in this report constitutes investment, legal, accounting and tax
advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their
own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This may not be taken in substitution for the exercise of independent judgment by any recipient. The recipient should
independently evaluate the investment risks. The value and return on investment may vary because of changes in interest rates, foreign exchange rates or any other reason. ICICI Securities accepts no liabilities whatsoever for any loss or
damage of any kind arising out of the use of this report. Past performance is not necessarily a guide to future performance. Investors are advised to see Risk Disclosure Document to understand the risks associated before investing in the
securities markets. Actual results may differ materially from those set forth in projections. Forward-looking statements are not predictions and may be subject to change without notice.
ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other assignment in the past twelve months.
ICICI Securities or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve months from the date of this report for services in respect of managing or co-
managing public offerings, corporate finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction.
ICICI Securities encourages independence in research report preparation and strives to minimize conflict in preparation of research report. ICICI Securities or its associates or its analysts did not receive any compensation or other benefits
from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither ICICI Securities nor Research Analysts and their relatives have any material conflict of interest at the time
of publication of this report.
Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions.
ICICI Securities or its subsidiaries collectively or Research Analysts or their relatives do not own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of the
research report.
Since associates of ICICI Securities are engaged in various financial service businesses, they might have financial interests or beneficial ownership in various companies including the subject company/companies mentioned in this report.
ICICI Securities may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report.
Neither the Research Analysts nor ICICI Securities have been engaged in market making activity for the companies mentioned in the report.
We submit that no material disciplinary action has been taken on ICICI Securities by any Regulatory Authority impacting Equity Research Analysis activities.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use
would be contrary to law, regulation or which would subject ICICI Securities and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all
jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
Disclaimer