Market price is 989 means you are getting share for just 15 rs !
POSITIVES:
(1) last date it will trade as CUM DIVIDEND 22 December 2020.
(2) Dividend payment date 30 December 2020.
(3) After this interim ,around rs 36 per share (103 crore inr on 28.577 million shareholders) still left which will be distributed by way of Final dividend or part face value return .
(4) after this company will be left with a single story 1 ,25,000 sq feet building at Mhape new Mumbai which will be sold in due course and company will be liquidated by distributing the cash received .
NEGATIVES:
(1) Dividend income is taxable in the hands of shareholder.
(2) assume market price at close of 22 December is 989 the regulatory adjusted price on 23 December will be 15 per share and circuit will apply on this adjusted price.
(3) the circuit limit is 5% as of now.
(4) to reach 40 or 50 per share from 15 on a circuit of 5% , will take few months !
Just shifted the post to Stocks category from General 
Thanks!
A 15% move post-dividend is needed to justify dividend tax, correct?
I am expecting market price of around 40 per share post dividend but since it had a circuit of 5% the closing price of 22 December has to be 1012.10 so that hit of 5% will give a price of 40 on 23 December otherwise it may go on hitting UC till 40 odd !
@ShubhS9 …what if Closing price on 22 December turn out 970 wherein Extra Ordinary Dividend is 974 per share how it will be adjusted for EX dividend price on 23 December. SURELY market price can not be in minus .
SEBI must have framed rules for such situations too as there are Cricket rules in every situation by Duckworth-Lewis !
No way, You will pay a percentage of current stock price in tax. (for example 10% of 982 i.e. 98.2 INR). So you will loss 98.2 INR.
Post dividend, if the stock price go up even by 30%, then you will only earn 30% of 15 INR i.e. 4.5 INR.
So it doesn’t make sense.
Yes, the stock price cannot be in negative. This scenario will be one to watch out for, you have got me curious as well 
There must be some provisions, not aware of them though. Maybe we will have to wait and see what happens.
@ShubhS9 @justdoit What if i buy the stock before the ex date CMP, so i will get dividend and after 23rd i will sell. the circuit is 5% so it wont reach 0 so soon. actually i can profit right? if my dividend is less than 10 Lakh, its not taxable right?
No need to worry, price won’t go negative, it may be .05 but not negative, also they have some 100 cr cash and some land, company said they will also distribute that in next one year so it will have some value.
Also price coming down by dividend amount is in theory, practically it can go up or more down, that depends on expectation of it’s performance in future.
How will you profit?
The CMP is 982, if i buy now i will get 974 dividend. if i can sell the stock before it reaching 8rs im in profit right?
EXTRA ORDINARY DIVIDEND will be adjusted with exact dividend amount in all cases wherever it is 5% or more than the closing market price .
this share has 5% circuit limit as of now to go up and down after adjustment .
You will get dividend of 974 per share ONLY AND ONLY if you sell earliest on 23 December when it will trade EX dividend .
(1) Dividend is taxable in the hands of shareholder since 1 April 2020. (2) you can even buy on 22 December and sell on 23 December ( BTST) . your broker will credit the dividend to your trading account. (3) closing price of 22 December MINUS 974 will be adjusted price on ex divide date 23 December. circuit breaker will be on this adjusted price.
Ok, so say suppose after i received the dividend the stock is trading around 900 or 800, i can sell right? so im in profit right? sorry if im asking blunders 
After dividend stock should trade /settle around 35-40 per share but for this 22 December closing has to be around 1005-1010 .
if the closing on 22 December is say 982 which was today the price on 23 December will be around 8.50 with UC and will keep hitting ucS for months till 35-40 !
It may not go negative but there is possibility because it is an unprecedented corporate action case of ever highest dividend per share by any company in history .
Yes, “if” you can, but now dividends are taxed at personal level, so all factors should be considered.
Nothing like that, no matter what if he is eligible he will get dividend.