5 stocks to go ex-dividend today; Nykaa shares drop nearly 2% ahead of Q3 results

Equity market witnessed volatile trading in the morning session on Monday, with shares of five companies including IDFC, Emami, Sun TV, Procter & Gamble Health, and Engineers India to turn ex-dividend today.

IDFC shares would turn ex-dividend today. The company’s board of directors had announced a special dividend of ₹11 per equity share, and fixed 13 February, 2023 as the record date for the same.

Share of IDFC Ltd opened downside and went on to hit intraday low of ₹78.40 apiece, down 13.66 per cent from its Friday’s close price of ₹90.80 apiece on the NSE.

Emami Ltd’s board has approved the declaration of the payment of the second interim dividend of ₹4 per share. Record date for ascertaining the names of the members who will be entitled to receive the second interim dividend is 13 February, 2023, according to an exchange filing.

Sun TV Network had announced a dividend of ₹3.75 per share with record date of 13 Feb, 2023.

Procter & Gamble Health had announced an interim dividend of ₹45 per share and today is the record date for the same.

Engineers India had announced a dividend of ₹2 per equity share would also turn ex-dividend today.

When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. Usually, an ex-dividend date is set one or two days before the record date.

Q3 results today

FSN E-Commerce Ventures (Nykaa), Steel Authority of India (SAIL), Landmark Cars, Godrej Industries, IRFC, Gujarat Gas, Linde India and IRB Infra are among companies that will announce their quarterly results today.

Nykaa shares down 2% ahead of Q3 numbers

Shares of Fsn E-Commerce Ventures Ltd were trading at ₹151.80 apiece on Monday at the BSE, down by 1.87% during morning deals, ahead of its December quarter results.

According to analysts, Nykaa’s October-December quarter growth would be led by the festive demand during the holiday season, penetration in new channels and newer initiatives – eB2B superstore.

JM Financial expects Nykaa to deliver 29 per cent growth on-year in Gross Merchandise Value (GMV) and 26 per cent YoY growth in revenue.

Amid a tougher macro environment, Nykaa’s beauty and personal care (BPC) segment is expected to do well due to the relative inelasticity of Nykaa shoppers amid said JM Financial.

Nykaa Fashion, however, might still not see market share gains due to heightened competitive intensity, but will likely deliver decent growth on the small base, it said.

We anticipate Nykaa to deliver 29 per cent YoY growth in GMV and 26 per cent YoY growth in revenue led by strong growth in fashion and new initiatives. With BPC business delivering strong operating leverage and company-wide lowering of fulfilment costs from regional centres, we expect overall Ebitda margin to improve 152 bps sequentially and 21 bps YoY,” JM Financialsaid.

Nykaa third quarter results are expected to come after market hours.

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