Corporate Action Update: Steel City Securities, Shri Niwas Leasing to trade ex-date on February 27; catch dividend, rights details here

After a trading holiday on Tuesday for Mahashivratri, Dalal Street will be back in action on Wednesday, February 27. A couple of stocks are set to trade ex-date as soon as the opening bell on Thursday. Steel City Securities (STEELCITY) will trade ex-dividend while Shri Niwas Leasing and Finance Ltd will go ex-rights. Earlier, the companies declared an interim dividend of Re 1 per share (face value: Rs 10) and the issuance of rights respectively. Traders and investors should keep an eye on these developments as the market reopens.

Here are details of these corporate actions, due on February 27: 

1. Shri Niwas Leasing and Finance Ltd Rights 

Shri Niwas Leasing and Finance Ltd has announced its Rights Issue schedule. The ex-date for the Rights Issue of equity shares is February 27, 2025, with the record date also set for February 27, 2025. The book closure will start and end on February 27, 2025. The Rights Issue will open on March 6, 2025, and close on March 20, 2025. The company will offer 3,99,70,000 equity shares at a price of Rs 10 per share, totaling Rs 39.97 crore. The entitlement ratio for the issue is 10:1, meaning shareholders will be entitled to 10 rights shares for every 1 fully-paid equity share held as of the record date.

Over the past five days, the stock price of Shri Niwas Leasing and Finance Ltd has remained unchanged at Rs 17.66. In the past month, the stock gained Rs 0.79, or 4.68 percent, maintaining its price at Rs 17.66. However, in the last six months, the stock has declined by Rs 2.62, or 12.92 percent. 

In comparison, the Nifty 50 benchmark index has seen a decline in recent periods. Over the past five days, the Nifty 50 dropped by 1.31 percent, losing Rs 299 to settle at 22,547.55. The index also saw a decrease of Rs 281.60, or 1.23 percent, in the past month, and over the last six months, it fell by Rs 2,463.05, or 9.85 percent.

2. Steel City Securities Limited Dividend

Steel City Securities Limited has announced an interim dividend of Re 1 per share (face value: Rs 10). The ex-date and record date for this dividend are both set for February 27, 2025. The record date, Thursday, 27th February 2025, will be the cutoff for the payment of the third interim dividend for the financial year 2024-25.

In terms of stock performance, Steel City Securities Limited has displayed solid growth over recent periods. The stock price is currently at Rs 100.26, showing a gain of Rs 10.10, or 11.20 per cent, over the past five days. Over the past month, it has increased by Rs 2.51, or 2.57 per cent. In comparison to the Nifty 50 benchmark index, which has experienced a decline, Steel City’s stock has outperformed.

Dalal Street: Sensex and Nifty 50 performance on Tuesday

Indian equities managed to snap a five-day losing streak on Tuesday, February 25, 2025, despite weak global cues. The market opened slightly higher, with the Nifty 50 gaining 0.01 per cent to reach 22,555.55, while the BSE Sensex rose by 0.1 per cent, up 77.38 points, settling at 74,531.79 points. 

Sector-wise, the session was mixed. Realty, IT, Metal, and Pharma stocks saw selling pressure, with the realty sector leading the losses, down by over 1 per cent. On the other hand, the banking, financial services, and media indices emerged as the sectoral gainers for the day.