Scribd
Upload
53 views2 pages

F&O Event Tracker: Retail Research

This document provides a tracker of forthcoming corporate actions for stocks trading in the futures and options market from March 2, 2017 to April 1, 2017. It lists 5 companies with dividend dates during this period. It also notes that futures prices of high dividend yield stocks may trade at a discount to the spot price prior to the ex-date, while small dividend announcements likely have no impact. Bonus issues and stock splits also likely have no major impact on futures premiums/discounts. It identifies 3 companies that may announce dividends in early March and see futures trade at a small discount. Finally, it lists 3 stocks currently trading at significant discounts or premiums and potential reasons why.

Uploaded by

jaimaagan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
53 views2 pages

F&O Event Tracker: Retail Research

This document provides a tracker of forthcoming corporate actions for stocks trading in the futures and options market from March 2, 2017 to April 1, 2017. It lists 5 companies with dividend dates during this period. It also notes that futures prices of high dividend yield stocks may trade at a discount to the spot price prior to the ex-date, while small dividend announcements likely have no impact. Bonus issues and stock splits also likely have no major impact on futures premiums/discounts. It identifies 3 companies that may announce dividends in early March and see futures trade at a small discount. Finally, it lists 3 stocks currently trading at significant discounts or premiums and potential reasons why.

Uploaded by

jaimaagan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

01 March 2017

RETAIL RESEARCH F&O Event Tracker


F&O Stocks Tracker of Forthcoming Corporate Action from March 02, 2017 to April 01, 2017
S. No. Scrip Ex Date BC/RD Date Event Benefit Face Value Futures Price
Stock Split / Bonus / Dividend From To Rs. Rs.
1 ACC ltd 16/03/2017 20/03/017 24/03/2017 Dividend 60% 10 1414.0
2 Ambuja Cements Ltd 16/03/2017 20/03/2017 24/03/2017 Dividend 60% 2 229.45
3 Castrol India 07/03/2017 08/03/2017 08/03/2017 Dividend 40% 5 413.65
4 Gail (India) Ltd 09/03/2017 11/03/2017 11/03/2017 Bonus 1:3 10 509.60
5 Hexaware Technologies 02/03/2017 03/03/2017 03/03/2017 Dividend 50% 2 225.10

In case of stocks having a high dividend yield, it is observed that the futures start trading at a discount to the spot (by an amount less than the dividend expected)
immediately on the announcement of the dividend. The discount keeps fluctuating till the Ex-date, when the spot price attains parity with the futures price. After this
date, the futures start trading at the regular premium.

However, the small dividend (in terms of yield) announcements are seen to have no material impact on the discount/premium of stock futures to the spot price.

Bonus or stock split announcements are seen to have no major impact on the stock futures trading at a premium/discount to the spot (either before or after the Ex-
date).

Board meetings/ Announcement Dates for F&O stocks from February March 02, 2017 to April 01, 2017
Board Meeting/
S. No. Scrip Announcement Date Board Meeting Purpose Impact
1 Cadila Healthcare 07/03/2017 Dividend (last year 320% Interim announced) Could start trading at a small discount
2 Coal India 06/03/2017 Dividend (last year 274% Interim announced) Could start trading at a small discount
3 TVS Motors 06/03/2017 Dividend (last year 150% Interim announced) Could start trading at a small discount

Stock Futures (March 2017) currently trading at a significant discount/premium


Stocks Trading at a significant discount/
S.No. Scrip Premium Reason
1 Coal India Discount of Rs 13.60 or 4.4% Stock price expected to fall due to interim dividend to be announced on March 06, 2017
2 Just Dial Discount of Rs 14.00 or 2.6% Stock price expected to fall in near term by traders
3 Union Bank of India Discount of Rs 2.15 or 1.5% Stock price expected to fall in near term by traders

RETAIL RESEARCH Page |1


RETAIL RESEARCH

HDFC securities Limited, I Think Techno Campus, Bulding B. Alpha, Office Floor 8, Near Kanjurmarg Station,
Opp. Crompton Greaves, Kanjurmarg (East), Mumbai 400 042 Fax: (022) 30753435

Disclaimer: This document has been prepared by HDFC securities Limited and is meant for sole use by the recipient and not for circulation. This document is not to be reported or copied or made available
to others. It should not be considered to be taken as an offer to sell or a solicitation to buy any security. The information contained herein is from sources believed reliable. We do not represent that it is
accurate or complete and it should not be relied upon as such. We may have from time to time positions or options on, and buy and sell securities referred to herein. We may from time to time solicit from,
or perform investment banking, or other services for, any company mentioned in this document. This report is intended for non-Institutional Clients only.

This report has been prepared by the Retail Research team of HDFC Securities Ltd. The views, opinions, estimates, ratings, target price, entry prices and/or other parameters mentioned in this document
may or may not match or may be contrary with those of the other Research teams (Institutional, PCG) of HDFC Securities Ltd. "HDFC Securities Ltd. is a SEBI Registered Research Analyst having registration
no. INH000002475."

RETAIL RESEARCH Page |2

You might also like