Do you suggest buying into Majesco for the Rs.974 dividend declared? What is your view?
Answer
Answer
The record date for dividend is 25 December so stock will go ex-dividend on 23 December and 22 December will be the last cum-dividend date. You can buy Majesco either on 18, 21 or 22 Dec for dividends.
On ex-dividend date, the stock will quote at a very low price ex-dividend. The dividend will be taxed at your peak rate and no benefit of loss set-off will be available. Rather, you can exit and pay lower tax on capital gains.