Monthly Corporate Action Tracker

- Dossier of key corporate actions in October, 2018

Research Analyst:
Amit Gupta Bharat Chhoda Cheragh Sidhwa
amit.gup@icicisecurities.com bharat.chhoda@icicisecurities.com cheragh.sidhwa@icicisecurities.com

October 16, 2018

 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

2
Companies likely to pay dividend in October 2018

Announced dividend
Company Dividend Face value Dividend Dividend Yield
(%) (|) (|/share) (%) Ex-date
Hind. Unilever 900 1.00 9 0.6 25/10/2018
TCS 400 1.00 4 0.2 23/10/2018
Source: Capitaline, ICICI Direct Research

Probable dividend
Company Dividend Face value Dividend Dividend Yield Last Years
(%) (|) (|/share) (%) Ex-date
Colgate-Palm. 400 1.00 4 0.4 25/10/2017
Cyient 100 5.00 5 0.9 25/10/2017
ICICI Lombard 7.5 10.00 0.75 0.1 26/10/2017
Dewan Hsg. Fin. 30 10.00 3 0.5 26/10/2017
Asian Paints 265 1.00 2.65 0.2 31/10/2017
Infosys 260 5.00 13 2.8 31/10/2017
CRISIL 600 1.00 6 0.3 31/10/2017

Source: Capitaline, ICICI Direct Research

3
 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

4
 Board meetings scheduled in October 2018
Key Highlights
In the third and fourth week of October many large & midcap companies are scheduled to announce their quarterly results. Companies like
Reliance Industries, ACC, HDFC Bank, Asian Paints and Adani Ports are scheduled to declare their results between October 17-23, 2018. The
fourth week of October would see quarterly earnings declaration from companies like Wipro, Dr Reddy’s, Nestlé and Bharti Airtel.

Board meetings in October 2018 Board meetings in October 2018

Company Name Meeting Date Board Meeting purpose Company Name Meeting Date Board Meeting purpose
Reliance Inds. 17/10/2018 Quarterly Results Asian Paints 22/10/2018 Quarterly Results,Interim Dividend
Havells India 17/10/2018 Quarterly Results,Half Yearly Results Hind.Zinc 22/10/2018 Others
ACC 17/10/2018 Quarterly Results Glaxosmi. Pharma 22/10/2018 Quarterly Results
Mindtree 17/10/2018 Quarterly Results,Interim Dividend Kansai Nerolac 22/10/2018 Quarterly Results
Cyient 17/10/2018 Quarterly Results,Interim Dividend Alembic Pharma 22/10/2018 Quarterly Results
NIIT Tech. 17/10/2018 Quarterly Results Schaeffler India 22/10/2018 Quarterly Results
Cochin Shipyard 17/10/2018 Buy Back Lak. Mach. Works 22/10/2018 Quarterly Results
DCB Bank 17/10/2018 Quarterly Results,Half Yearly Results Can Fin Homes 22/10/2018 Quarterly Results
IndInfravit 17/10/2018 Accounts,Others CCL Products 22/10/2018 Quarterly Results
Responsive Ind 17/10/2018 Buy Back Mah. Scooters 22/10/2018 Quarterly Results
Mphasis 18/10/2018 Accounts,Quarterly Results Inox Leisure 22/10/2018 Quarterly Results
India Grid Trust 18/10/2018 Quarterly Results,Others Hind.Oil Explor. 22/10/2018 Others
Muthoot Cap.Serv 18/10/2018 Quarterly Results Kalyani Steels 22/10/2018 Quarterly Results
Anant Raj 18/10/2018 Quarterly Results Kalyani Invest. 22/10/2018 Quarterly Results
UltraTech Cem. 19/10/2018 Quarterly Results,Half Yearly Results Genus Power 22/10/2018 Others
SBI Life Insuran 19/10/2018 Quarterly Results HCL Technologies 23/10/2018 Quarterly Results,Interim Dividend
ICICI Sec 19/10/2018 Quarterly Results Bajaj Fin. 23/10/2018 Quarterly Results
Bhansali Engg. 19/10/2018 Quarterly Results Bajaj Finserv 23/10/2018 Right Issue
Sadhana Nitro 19/10/2018 Quarterly Results HDFC Stand. Life 23/10/2018 Quarterly Results
HDFC Bank 20/10/2018 Quarterly Results Adani Ports 23/10/2018 Quarterly Results
ICICI Lombard 20/10/2018 Quarterly Results,Interim Dividend ICICI Pru Life 23/10/2018 Quarterly Results,Interim Dividend
MPS 20/10/2018 Quarterly Results Ambuja Cem. 23/10/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research TVS Motor Co. 23/10/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research

5
 Board meetings scheduled in October 2018

Board meetings in October 2018 Board meetings in October 2018

Company Name Meeting Date Board Meeting purpose Company Name Meeting Date Board Meeting purpose
Bayer Crop Sci. 23/10/2018 Quarterly Results KPIT Tech. 24/10/2018 Quarterly Results
Zensar Tech. 23/10/2018 Quarterly Results Lak. Vilas Bank 24/10/2018 Quarterly Results
Multi Comm. Exc. 23/10/2018 Quarterly Results Internat. Paper 24/10/2018 Quarterly Results
Rallis India 23/10/2018 Quarterly Results T N Newsprint 24/10/2018 Change in Other Executives
Tejas Networks 23/10/2018 Quarterly Results Agro Tech Foods. 24/10/2018 Quarterly Results
Tata Metaliks 23/10/2018 Quarterly Results Everest Inds. 24/10/2018 Quarterly Results
Sasken Technol. 23/10/2018 Quarterly Results,Interim Dividend Maruti Suzuki 25/10/2018 Quarterly Results
Indian Metals 23/10/2018 Quarterly Results Bharti Airtel 25/10/2018 Quarterly Results
Kotak Mah. Bank 24/10/2018 Quarterly Results JSW Steel 25/10/2018 Quarterly Results,Dividend
Wipro 24/10/2018 Quarterly Results Yes Bank 25/10/2018 Quarterly Results
Bajaj Auto 24/10/2018 Quarterly Results Biocon 25/10/2018 Quarterly Results
Bharti Infra. 24/10/2018 Quarterly Results L&T Technology 25/10/2018 Quarterly Results,Interim Dividend
L & T Infotech 24/10/2018 Quarterly Results,Interim Dividend Crompton Gr. Con 25/10/2018 Quarterly Results
Bajaj Holdings 24/10/2018 Quarterly Results Shri.City Union. 25/10/2018 Quarterly Results,Interim Dividend
L&T Fin.Holdings 24/10/2018 Quarterly Results V-Guard Inds. 25/10/2018 Quarterly Results
M & M Fin. Serv. 24/10/2018 Quarterly Results,Half Yearly Results JM Financial 25/10/2018 Quarterly Results
Jubilant Food. 24/10/2018 Quarterly Results,Half Yearly Results Kajaria Ceramics 25/10/2018 Quarterly Results
Bharat Financial 24/10/2018 Quarterly Results Raymond 25/10/2018 Quarterly Results
IDFC Bank 24/10/2018 Quarterly Results Intellect Design 25/10/2018 Quarterly Results
Syngene Intl. 24/10/2018 Quarterly Results Kirl. Brothers 25/10/2018 Quarterly Results,Half Yearly Results
Hexaware Tech. 24/10/2018 Quarterly Results,Interim Dividend Tata Coffee 25/10/2018 Quarterly Results
SKF India 24/10/2018 Quarterly Results Kewal Kir.Cloth. 25/10/2018 Quarterly Results,Interim Dividend
Sundaram Clayton 24/10/2018 Quarterly Results Hil Ltd 25/10/2018 Quarterly Results
TTK Prestige 24/10/2018 Quarterly Results Kirloskar Indus. 25/10/2018 Quarterly Results
Security & Intel 24/10/2018 Quarterly Results ITC 26/10/2018 Quarterly Results
Karur Vysya Bank 24/10/2018 Quarterly Results ICICI Bank 26/10/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research Source: Capitaline, ICICI Direct Research

6
Board meetings scheduled in October 2018

Board meetings in October 2018 Board meetings in October 2018

Company Name Meeting Date Board Meeting purpose Company Name Meeting Date Board Meeting purpose
Nestle India 26/10/2018 Quarterly Results Seshasayee Paper 27/10/2018 Quarterly Results
Dr Reddy's Labs 26/10/2018 Quarterly Results H T Media 27/10/2018 Quarterly Results
Bharat Electron 26/10/2018 Quarterly Results Colgate-Palm. 29/10/2018 Quarterly Results
Coromandel Inter 26/10/2018 Quarterly Results HDFC AMC 29/10/2018 Quarterly Results
P I Inds. 26/10/2018 Quarterly Results,Half Yearly Results GRUH Finance 29/10/2018 Quarterly Results
Atul 26/10/2018 Quarterly Results Tata Power Co. 29/10/2018 Accounts
Shoppers St. 26/10/2018 Quarterly Results Sundram Fasten. 29/10/2018 Quarterly Results
Deepak Nitrite 26/10/2018 Quarterly Results Carborundum Uni. 29/10/2018 Quarterly Results
Kirloskar Oil 26/10/2018 Quarterly Results Chambal Fert. 29/10/2018 Quarterly Results
Mahindra Life. 26/10/2018 Quarterly Results CPCL 29/10/2018 Quarterly Results
Emami Paper 26/10/2018 Quarterly Results Sudarshan Chem. 29/10/2018 Quarterly Results
Kokuyo Camlin 26/10/2018 Quarterly Results Rane Holdings 29/10/2018 Quarterly Results
Nucleus Soft. 26/10/2018 Quarterly Results Meghmani Organ. 29/10/2018 Quarterly Results
Hindustan Media 26/10/2018 Quarterly Results Swaraj Engines 29/10/2018 Quarterly Results
Shanthi Gears 26/10/2018 Quarterly Results Honda Siel Power 29/10/2018 Quarterly Results
Empire Inds. 26/10/2018 Quarterly Results Action Const.Eq. 29/10/2018 Quarterly Results
Panama Petrochem 26/10/2018 Quarterly Results Tech Mahindra 30/10/2018 Quarterly Results
Oriental Aromat. 26/10/2018 Bonus Issue,Stock Split Pidilite Inds. 30/10/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research
Source: Capitaline, ICICI Direct Research

7
 Board meetings scheduled in October 2018

Board meetings in October 2018 Board meetings in October 2018

Company Name Meeting Date Board Meeting purpose Company Name Meeting Date Board Meeting purpose
Container Corpn. 30/10/2018 Quarterly Results Astra Microwave 30/10/2018 Quarterly Results
ABB 30/10/2018 Quarterly Results Dabur India 31/10/2018 Quarterly Results,Interim Dividend
Bank of Baroda 30/10/2018 Quarterly Results Tata Motors 31/10/2018 Quarterly Results
Cholaman.Inv.&Fn 30/10/2018 Quarterly Results United Spirits 31/10/2018 Quarterly Results
Info Edg.(India) 30/10/2018 Quarterly Results HEG 31/10/2018 Quarterly Results
The Ramco Cement 30/10/2018 Quarterly Results Canara Bank 31/10/2018 Quarterly Results
Torrent Power 30/10/2018 Quarterly Results TI Financial 31/10/2018 Quarterly Results
EIH 30/10/2018 Quarterly Results Blue Dart Exp. 31/10/2018 Quarterly Results
Prestige Estates 30/10/2018 Quarterly Results Prism Johnson 31/10/2018 Quarterly Results
IDFC 30/10/2018 Quarterly Results Indostar Capital 31/10/2018 Quarterly Results
Blue Star 30/10/2018 Quarterly Results Balrampur Chini 31/10/2018 Quarterly Results
IFB Inds. 30/10/2018 Others GHCL 31/10/2018 Quarterly Results
CreditAcc. Gram. 30/10/2018 Quarterly Results Tinplate Co. 31/10/2018 Quarterly Results
Navin Fluo.Intl. 30/10/2018 Dividend TTK Healthcare 31/10/2018 Quarterly Results
NOCIL 30/10/2018 Quarterly Results Dhampur Sugar 31/10/2018 Others
Natl.Fertilizer 30/10/2018 Quarterly Results EIH Assoc.Hotels 31/10/2018 Quarterly Results
JMC Projects 30/10/2018 Quarterly Results Orient Paper 31/10/2018 Quarterly Results
Esab India 30/10/2018 Quarterly Results Sanwaria Consum. 31/10/2018 Quarterly Results
Unichem Labs. 30/10/2018 Quarterly Results
Source: Capitaline, ICICI Direct Research
Source: Capitaline, ICICI Direct Research

8
 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

9
Corporate actions announced in October 2018

Stock split
Face value before Face value after
Company Name Ratio split split Record date
Jindal Worldwide 5:1 5.0 1.0 1/11/2018
Indian Energy Ex 10:1 10.0 1.0 22/10/2018
Britannia Inds. 2:1 2.0 1.0 NA
Sadhana Nitro 2:1 10.0 5.0 NA
DFM Foods 5:1 10.0 2.0 NA
Mishtann Foods 10:1 10.0 1.0 NA
Jindal Worldwide 5:1 5.0 1.0 NA
Oriental Veneer 10:1 10.0 1.0 NA
Sakuma Exports 10:1 10.0 1.0 NA
Source: Capitaline, ICICI Direct Research

Ongoing open offer

Offer Start Offer Close Offer Price Proposed Acquisition Proposed Acquisition
Company Date Date (|) (No. of shares in crore) (% Capital)
Infinite Comp 11/10/2018 17/10/2018 258.5 0.8 25.0
Electrosteel St. 11/10/2018 17/10/2018 9.5 19.6 10.0
Olectra Greentec 10/10/2018 24/10/2018 175.3 2.4 26.0
Federal-Mogul Go 29/11/2018 12/12/2018 420.1 1.4 25.0
IDBI Bank 3/12/2018 14/12/2018 61.7 204.2 26.0
Polaris Consulta 1/8/2018 31/07/2019 480.0 2.6 25.8
Source: Capitaline, ICICI Direct Research

10
 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

11
Major stakeholder’s activity seen in September 2018

Major stakeholder’s activity in September 2018

Company No of shares Bought/Sold Total Equity Net change % of total
(In lakhs) (In lakhs) (%)
Star Cement 28.5 4192.3 0.7
India Cements 22.2 3081.5 0.7
Ipca Labs. 7.8 1263.5 0.6
CARE Ratings 6.1 294.6 2.1
Kaveri Seed Co. 14.2 631.3 2.2
Oracle Fin.Serv. -37.2 857.2 -4.3
Cyient -25.5 1130.4 -2.3
J Kumar Infra -22.2 756.7 -2.9
Apollo Hospitals -22.6 1391.3 -1.6
Source: Capitaline, ICICI Direct Research

Key Highlights

SBI Mutual Fund purchased 28.5 lakh shares (0.7%) of Star Cement
 Aditya Birla Sun life Mutual Fund purchased 22.2 lakh shares (0.7%) of India Cements
DSP Mutual Fund purchased 7.8 lakh shares (0.6%) of Ipca Labs.
Pabrai Investment Fund purchased 6.1 lakh shares (2.1%) and 14.2 lakh shares (2.2%) of CARE Ratings and Kaveri
Seed, respectively
 Sussex (Mauritius) Limited sold 37.2 lakh shares (4.3%) of Oracle Fin. Serv.
Aditya Birla Sun life Mutual Fund sold 25.5 lakh shares (2.3%) and 22.2 lakh shares (-2.9%) of Cyient and J Kumar
Infra, respectively
Oppenheimer Funds sold 22.6 lakh shares (1.6%) of Apollo Hospitals
 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

13
Preferential allotment in September 2018

The momentum related to raising money through preferential allotment continued to slow down. The number of companies that raised capital
through preferential allotment in September 2018 (12 companies) was lowest over the last year and significantly lower than last year’s average
of 25 companies.

Preferential allotment in September 2018

Company No.of Eq. Shares Face Value Issue Price Issued To Issued Category Date of allotment
(in crore) (|) (|)
Sical Logistics 0.66 10 194 Tanglin Retail Reality Developments Pvt Ltd Promoter 7/9/2018
Zodiac Cloth. Co 0.18 10 169.05 Mohamed Yusuf Noorani & PACs Promoters 12/9/2018
Shivalik Rasayan 0.33 5 326 Growel Wellness Innovations Ltd Promoter & Non-Promoter 27/09/2018
Religare Enterp. 0.38 10 52.3 Girdharila{ V. Lakhi NA 4/9/2018
Source: Capitaline, ICICI Direct Research
 Corporate
Deal Team Action Tracker-
– At Your October 2018
Service

1 Announced/Probable dividend

2 Board meetings for October 2018

3 Stock split and open offer for October 2018

4 Major stakeholder’s activity in September 2018

5 Preferential allotment in September 2018

6 Historical trends of corporate actions

15
Historical
Deal Team trend– of
Atrights
Yourand bonus issues
Service
Number of rights issues- CNX 500 Number of bonus issues- CNX 500

10 8 8 35 29
7 7 28
8 6 30
6 5 5 5 25 17 19
4 20 14 16
4 12 12 10
2 15 8
2 10
5
0 0
CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18
(upto (upto
Sep Sep
2018) 2018)
Number of rights Issue (CNX 500 Companies) Number of Bonus Issues

Key Highlights

 Of the CNX 500 companies, the rights issue has gained currency as a method to raise capital with seven companies
raising funds to the tune of | 4780 crore through a rights issue in CY17 compared to two companies raising funds
of | 910 crore in CY16
 Total 29 companies had announced bonus issue in CY17 compared to 16 companies in CY16. In YTDCY18, 19
companies have declared bonus issue till date

Source: Capitaline, ICICI Direct Research

16
Historical
Deal Team trend– of
Atstock
Yoursplits and dividend payouts
Service

Number of stock splits- CNX 500 Average dividend payout ratio (%) for CNX 500

40.0 36.5
45 39 34.3
40 35.0 30.5 30.0
35 28.2
30 30.0
25 18 15
20 11 12 13 25.0
15 7 10 17.8 19.4
6 6 20.0
10
5
0 15.0
CY09 CY10 CY011 CY12 CY13 CY14 CY15 CY16 CY17 CY18 10.0
(upto 5.0
Sep 0.0
2018) FY12 FY13 FY14 FY15 FY16 FY17 FY18
Number of stock Split
Dividend Payout Ratio

Key Highlights

 Post the implementation of the new 10% dividend tax and accounting changes owing to implementation of Ind-As
average dividend payout ratio has been on a downward trend with the ratio declining from 36.5% in FY15 to 19.4%
in FY18
 Total 10 companies had announced stock split in CY17 compared to 15 companies in CY16 while for YTDCY18 (up
to September 2018), six companies have announced stock split

Source: Capitaline, ICICI Direct Research

17
Pankaj Pandey Head – Research pankaj.pandey@icicisecurities.com
ICICI Direct Research Desk,
ICICI Securities Limited,
1st Floor, Akruti Trade Centre,
Road no.7, MIDC
Andheri (East)
Mumbai – 400 093
research@icicidirect.com

18
Disclaimer
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