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Shares of Roto Pumps will remain in focus on the bourses from Thursday, as the industrial machinery company has fixed November 27 as the ex-date for stock split. The company proposes to subdivide each share of face value ₹10 to five shares of face value ₹2 each. The stock, which closed at ₹540 on the BSE on Wednesday, will start trading in the range of ₹105-15. Those buying the shares from Thursday will not be eligible to receive the stock-split shares.
All eyes on Nelco's financial performance
Tata group company Nelco will remain in focus on Thursday as it is reporting financial performance for the year ended September 2014. The board will also recommend dividend if any. In fiscal 2013 (ending September), it reported a loss of ₹16.37 crore and a revenue of ₹109.72 crore. However, for the quarter ended June 2014, Nelco posted a profit of ₹7.35 crore and a revenue of ₹20.69 crore. Whether Nelco would sustain the momentum this quarter remains to be seen.
CERC booster for Tata Power
Shares of Tata Power will remain in focus as the Central Electricity Regulatory Commission has approved the tariff petition of Tata Power for its 1,050-MW Maithon Power project in Jharkhand. The Commission has approved the five-year (FY11-FY14) tariff petition of Maithon Power, a joint venture between Tata Power (74 per cent) and Damodar Valley Corporation (26 per cent). The company had achieved financial closure for the ₹5,500 crore project in 2008.
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