Does it make sense to buy Majesco now and sell the shares after receiving 974 per share dividend? Will I be able to save tax if I use my father’s (senior citizen) trading account for this? What is the best option?
You can check this topic for discussion on Majesco dividend: MAJESCO ltd announced 974 per share Interim dividend!
The only unanswered question remain after this is HOW THE MARKET PRICE rather adjusted price ON 23 DECEMBER WILL BE DECIDED if close of 22 December is below 974 ?
SINCE THIS HAS NEVER HAPPENED that Dividend per share is more than market price …the price on 23 December should be through a price discovery process as it take place in new listing after IPO or re-listing after merger , d-merger , capital reduction etc cases . if price discovery process is adopted , i am expecting the price to be around 25 per share on 23 December.
THE UNANSWERED QUESTION has been answered by bse/nse circular specifically for MAJESCO LTD dated 21 December 2020 that ADJUSTED PRICE on ex date 23 December will be closing price of 22 December minus 974 OR face value 5 ,WHICHEVER IS HIGHER.