Investors must hold shares of these companies in their demat accounts on the record date to be eligible for the respective corporate actions. The list remains tentative, as more companies may announce record dates for dividends, bonus issues and stock splits during the week.

Colgate Palmolive (India) and Epigral shares will turn ex-record dates for interim dividend of Rs 24 and final dividend of Rs 5, respectively, on Monday, kickstarting the week full of corporate actions. On Tuesday, the shares of Setco Automotive will turn ex-record date for an interim dividend of Rs 13 per share.

Anand Rathi Wealth bonus issue record date

Anand Rathi Wealth’s board last month approved a bonus issue of shares in the ratio of 1:1 by capitalising its reserves. Anand Rathi Wealth said that it will issue one new fully paid-up equity share with a face value of Rs 5 for every existing fully paid-up equity share held by the eligible shareholders as on the record date, which is fixed on June 3 (Wednesday).

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Ashok Leyland dividend record date
Ashok Leyland on May 28 released its Q4 results, and announced a second interim dividend of Rs 2.5 per share with a face value of Re 1 each for the financial year 2026. The dividend would be paid on or before June 26. The record date to determine the eligibility of shareholders set to receive the payment has been fixed on June 3 (Wednesday). The company said that there will not be any final dividend for the financial year 2026.
Additionally, the shares of Foseco India, Monarch Surveyors and Engineering Consultants, and Navneet Education will also turn ex-record dates on Wednesday for their respective dividends worth Rs 25, Rs 1.6 and Rs 1.5 per share. Trent bonus issue record date
Zudio and Westside-parent Trent shares will turn ex-record date on June 4 for its first-ever bonus issue, offering shares in a 1:2 ratio to more than five lakh shareholders. Earlier in April, the Tata Group-company had announced the 1:2 bonus issue along with Rs 6 dividend and Q4 results. The Tata Group company said that it will issue one bonus share for every two shares owned as on the record date. Around 17.77 crore shares with a face value of Re 1 each will be issued as part of the offer.

The shares of Rallies India meanwhile will turn ex-record date for Rs 3 final dividend on Thursday (June 4).

Reliance Industries dividend record date
Reliance Industries (RIL) has fixed June 5 (Friday) as the record date for determining shareholders eligible to receive dividend for FY26. The company’s board had earlier recommended a dividend of Rs 6 per share for the financial year ended March 2026. The dividend, if approved at the AGM, will be paid within seven days of the meeting.

Bank of Baroda also will turn ex-record date for its final dividend of Rs 8.5 per share on Friday, along with Cipla (Rs 13), ICICI Prudential Life Insurance Company (Rs 1.65), JSW Energy (Rs 2), Archaen Chemical Industries (Rs 2.5), HDFC Asset Management Company (Rs 54), Ponni Sugars (Rs 5) and Qgo Finance (Rs 0.15).

E2E Networks meanwhile will undergo its stock split on Friday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

This statement is not cynicism, it is a warning about human behaviour, crowd psychology, and the emotional traps embedded in investing.

The Market Is Not Designed to Be Easy

Markets are driven by millions of participants reacting to news, fear, greed, liquidity, and macroeconomic shifts. Prices rarely reflect just “value”; they reflect expectations about the future, and expectations constantly change.

This creates a system where:

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• Good news is often already priced in
• Bad news arrives when optimism is highest
• Volatility increases precisely when conviction is strongest

Baruch understood that the market does not reward intelligence alone, it rewards discipline, patience, and emotional control.
Why Most Investors Fail at TimingOne of Baruch’s strongest warnings was against market timing. He believed that trying to perfectly buy at the bottom and sell at the top is not just difficult, it is impossible.

In reality:

• Bottoms are clear only in hindsight
• Tops feel like the beginning of more gains
• Emotional bias leads investors to act late

This is why many investors buy in euphoria and sell in panic, exactly the opposite of what creates wealth.

The Danger of “Tips” and Noise

Baruch was deeply sceptical of stock tips and so-called “inside information”. He warned that most investors lose money not because they lack information, but because they misuse it.

Key insights:

• Information is abundant, but insight is rare
• Noise often disguises itself as opportunity
• Confidence increases when information is misunderstood

In modern markets, this problem has only intensified with social media, news overload, and instant opinions.

Investing Requires Real Work

Baruch emphasised that investing is not a passive activity. It requires effort, understanding, and attention.

He suggested investors should:

• Study companies thoroughly
• Understand earnings, management, and industry trends
• Continuously update their assumptions

Successful investing is not about guessing, it is about understanding businesses deeply enough to withstand uncertainty.

Losses Are Part of the Process

Another powerful Baruch lesson is about accepting mistakes quickly.

Many investors:

• Hold losing positions too long
• Hope for recovery instead of reassessing facts
• Let ego override logic

Baruch’s approach was simple: if the investment thesis breaks, exit without emotional attachment. Capital preservation is more important than being right.

Cash Is Not Idle, It Is Opportunity

Baruch also advised keeping part of your portfolio in cash. In a market driven by cycles, liquidity is not wasted capital, it is optionality.

Cash allows investors to:

• Act during corrections
• Avoid forced selling
• Wait for better opportunities

In his view, being fully invested at all times is not discipline, it is risk.

Focus Beats Over-Diversification

While diversification is important, Baruch warned against over-spreading investments. Too many holdings dilute attention and reduce understanding.

Instead, he believed in:

• Fewer, well-understood investments
• Continuous monitoring
• Deep knowledge over broad exposure

Quality of understanding matters more than the quantity of holdings.

The Real Edge in Markets

Baruch’s wisdom ultimately points to one truth:

The stock market does not beat you with complexity, it beats you with your own behaviour.

The real edge is not prediction, but discipline:

• Avoid emotional decisions
• Ignore noise and hype
• Accept uncertainty
• Think long term
• Act with patience, not impulse

In a world where everyone is trying to outsmart the market, Baruch’s message remains timeless: the market rewards those who stay rational when others cannot.

Where We Are

The rupee has depreciated against the dollar at a compound annual rate of approximately 5% since the 1991 liberalisation. The journey reads like a one-way ladder: Rs 3.30 at independence in 1947, Rs 17 before liberalisation, Rs 46 by 2000, Rs 75 in 2020, Rs 97 today. While the RBI has managed the pace of depreciation effectively, there has not been a sustained reversal along that path.

The current stress has a specific character worth noting. The rupee has weakened 12% over the last 12 months. The DXY dollar index, by contrast, fell 9.4% through all of 2025. That is rupee-specific stress, and it points directly to the forces underneath.

Three Catalysts, None Short-Lived

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The first is oil. India imports 88% of its crude requirement, and Brent crude ranged between $97 and $110 per barrel in May 2026, spiking above $110 precisely when the rupee hit its record low. Every dollar increase in the oil price widens the import bill, adds to current account pressure, and increases structural demand for dollars. The RBI cannot drill its way out of this.
The second is capital flows. Foreign portfolio investors have pulled Rs 2.2 lakh crore from Indian equities in 2026 alone, the worst outflow year since FPI investing in Indian equities was first permitted in 1992. When foreign capital exits, it exits in dollars. Dollar supply in the market falls, demand rises, and the rupee weakens. The mechanism is direct and the numbers are not small.The third is the inflation differential. India’s CPI has run structurally above US CPI over any five-year or longer horizon, and purchasing power parity adjustments work quietly but persistently in the background. The approximately 5% annual depreciation since 1991 is not coincidental to this differential. It is mechanical.

None of these catalysts resolve quickly. Oil dependence is a decade-long infrastructure challenge. FPI flows depend on global risk appetite and relative valuations that will remain volatile. The inflation differential compresses only when India’s supply-side productivity gains structurally outpace the US over a sustained period. The RBI Governor has stated the bank will do “whatever is required” for orderly markets and that the rupee appears undervalued.

But rate hikes to defend the currency are not on the agenda. The tools available to the central bank are narrower than the structural forces pressing against it.

What This Means for Portfolio Construction

A dollar-denominated asset earns on two levels for an Indian investor: the USD return of the underlying, and rupee depreciation layered on top. At the 10-year average depreciation rate of 3.4%, a flat-returning US asset still delivers a 1.4x return in INR over a decade, purely from currency. At the long-run 5% rate, currency alone roughly doubles the INR value of any dollar asset over 20 years. The dollar has strengthened against the rupee on a net basis for 34 years. The currency tailwind is built into the asset class.

Sure, the Nifty 50 TRI delivered 14.6% CAGR in INR terms for the decade ending 2023, a strong number on any measure. The S&P 500 in INR delivered approximately 15-16% annualised over the same 10-year window, per reconstructed data combining S&P 500 USD returns with RBI exchange rate data. Comparable headline returns, but with uncorrelated drivers. When oil spikes and FPI outflows hit simultaneously, a domestic-only portfolio absorbs the equity market impact and the currency erosion at the same time. A portfolio with dollar exposure absorbs the equity impact but earns on the currency move. Those are meaningfully different risk profiles wearing similar return numbers.

A 20 to 30% allocation to US equities through the LRS route, built over time via low-cost index ETFs and direct stocks accessible through platforms like Appreciate, is a structural response to a structural reality: the rupee has weakened at approximately 5% annually for 34 years, three catalysts sustain that pressure today, and a portfolio concentrated entirely in one currency carries a risk the data has been pricing in for decades.

(The author, Subho Moulik is Founder & CEO at Appreciate)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

In a holiday-shortened last week, the BSE benchmark Sensex dropped 639.61 points, or 0.84 per cent, and the NSE Nifty declined 171.55 points, or 0.72 per cent.

From the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever faced erosion in their valuations, while State Bank of India, Larsen & Toubro and Life Insurance Corporation of India (LIC) were the gainers.

The market valuation of Reliance Industries dropped by Rs 46,078.3 crore to Rs 17,87,039.40 crore.

HDFC Bank’s valuation eroded by Rs 33,333.06 crore to Rs 11,46,641.84 crore.

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The valuation of Bharti Airtel tumbled Rs 25,408.96 crore to Rs 11,14,886.53 crore and that of TCS dived Rs 22,920.58 crore to Rs 8,15,480.75 crore.
The market capitalisation (mcap) of Hindustan Unilever diminished by Rs 13,169.46 crore to Rs 5,04,210.54 crore.Bajaj Finance’s valuation declined by Rs 7,253.24 crore to Rs 5,63,262.33 crore and that of ICICI Bank dipped by Rs 6,311.41 crore to Rs 9,00,589.91 crore.

However, the mcap of Larsen & Toubro jumped Rs 20,608.43 crore to Rs 5,60,836.64 crore.

State Bank of India’s mcap climbed Rs 13,753.62 crore to Rs 8,89,831.54 crore and that of LIC went up by Rs 6,040.37 crore to Rs 5,20,484.06 crore.

Reliance Industries remained the most valued domestic firm followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.

Revenue from operations increased 17% year-on-year (YoY) and 6% sequentially to Rs 11,217 crore during the quarter. Despite the strong top-line performance, margins remained under pressure due to rising input costs.

Gross profit stood at Rs 1,398 crore, translating into a margin of 12.47%. The company said profitability was impacted by a sharp rise in packaging material costs during the latter half of March, particularly for PET bottles and polyester films, driven by crude oil volatility and higher freight expenses.Cost of goods sold increased by 294 basis points as a percentage of revenue on a YoY basis. EBITDA, excluding exceptional items, came in at Rs 502 crore with an EBITDA margin of 4.48%.

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The edible oils business remained the largest contributor to revenue. The segment reported revenue of Rs 8,324 crore during the quarter, up 23% YoY and 13.5% sequentially. Segment EBITDA stood at Rs 215 crore, with margins of 2.58%.
Branded edible oils accounted for nearly 75% of total edible oil sales and continued to drive growth.
The company said palm oil prices strengthened sharply during the quarter, with refined palm oil prices rising nearly 20% between January and March 2026. The increase was driven by higher import costs from Malaysia and Indonesia, elevated freight charges, rising insurance costs and expectations of tighter global supplies.
Soya oil prices also moved higher, rising 23% during the quarter.

The FMCG segment continued its strong performance and generated revenue of Rs 2,890 crore, up 14% YoY. Segment EBITDA rose 14% to Rs 292 crore, while margins stood at 10.1%.

The FMCG business contributed nearly 26% of quarterly revenue and almost 58% of segment EBITDA during the quarter, underscoring its growing importance in the company’s earnings mix.

Within FMCG, biscuits remained a key growth driver. Quarterly biscuit revenue rose nearly 14% to Rs 478 crore. For FY26, biscuit revenue crossed Rs 1,907 crore, growing 16%.

The company said its Doodh biscuit brand has now become a Rs 1,300-crore-plus annual sales brand, while Nariyal biscuits continued gaining market share.

The Staples portfolio generated quarterly revenue of Rs 849 crore, while the home and personal care business posted strong growth of 35% to Rs 840 crore. The skincare category emerged as one of the fastest-growing segments, with revenue rising 58% YoY.

The ghee business reported quarterly revenue of Rs 339 crore, while textured soya products contributed Rs 106 crore.

Beverages and juices also witnessed improved demand toward the end of the quarter as summer consumption recovered after an initially delayed season.

The company’s nutraceutical business generated revenue of Rs 18 crore following internal restructuring initiatives. Exports contributed Rs 32 crore during the quarter, while annual export revenue stood at Rs 187.8 crore. Patanjali Foods exported products to 37 countries during FY26.

For the full year, Patanjali Foods reported its highest-ever annual revenue from operations at Rs 40,170 crore, representing growth of 19% over FY25.

The edible oils business generated annual revenue of Rs 29,313 crore, while the FMCG segment reported annual revenue of Rs 11,188 crore, up nearly 20%. The company also continued expanding its oil palm plantation business under the government’s edible oil self-sufficiency push.

As of March 2026, the total oil palm cultivated area under the company’s network stood at 1.11 lakh hectares across 12 states, reflecting growth of 24% YoY.

Patanjali Foods spent around 2% of quarterly revenue on advertising and brand-building activities during the quarter.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)