30 Stocks Go Ex-Dividend Tomorrow: Payout Near Rs 187

Today is the last day to buy shares of Axis Bank, BSE Ltd, and 28 other companies to qualify for dividend payouts that total nearly Rs 187 per share across the basket. The ex-dividend date for these stocks falls on the next trading session. Anyone who buys after the close will miss the payout, as per the ETMarkets report.

The list includes some of the most actively traded names on Dalal Street. Axis Bank, the private-sector lender, is among the higher dividend payers. BSE Ltd, the country's oldest stock exchange, also features. Other frequently traded stocks on the list include HDFC Bank, Infosys, Wipro, and NTPC. These are also among the top trending tickers on ETMarkets.

The ex-date matters beyond the dividend cheque. The share price typically gaps down by roughly the dividend amount on the ex-date, so the net effect on a portfolio is usually neutral. A stock with strong ex-dividend momentum can sometimes fill the gap quickly. Retail investors buying specifically for the dividend need to factor in tax deducted at source (TDS) on dividends above Rs 5,000. That cuts the net payout.

Among the stocks in the group, HDFC Bank carries an AlphaScore of 49 out of 100, a Mixed rating from AlphaScala's proprietary model. Infosys scores 57, a Moderate rating. Wipro sits at 46, also Mixed. The scores suggest the dividend news alone is unlikely to change the underlying risk-reward profiles for these stocks. The ex-date could still create short-term trading setups.

For traders who already own these shares, the decision is whether to sell before the ex-date to avoid the gap-down and buy back later, or to hold through and collect the dividend. The gap-down is typically filled within a few days for liquid stocks, though not always. For those who do not own the stock, buying today solely for the dividend is a taxable event. It may not be worth the effort unless the stock is already on a watchlist for other reasons.

The broader market context adds another layer. The Sensex and Nifty have been volatile recently, with institutional selling emerging after a rally. The dividend ex-date for a large basket of stocks could add to the pressure if many holders decide to exit before the record date.

For investors focused on the dividend itself, the total payout of nearly Rs 187 per share across the basket is a meaningful number. It is spread across multiple stocks. The average dividend per stock is around Rs 6, which is small relative to the price of most of these shares. The real value is in the cumulative effect for a diversified portfolio.

Today's session will likely see increased volumes in these stocks as traders square positions. The next few hours will determine whether the dividend trigger brings buyers or sellers to the fore.