Mahindra and Mahindra, Balkrishna Industries and Castrol India shares fell 3-4 percent intraday Thursday as these stocks adjusted for bonus share issue. However, Vakrangee rallied 6 percent to hit a record high of Rs 405 per share intraday.
For the bonus issue, today is the ex-date and the companies fixed record date at December 23, 2017.
The record date is the date established by the company for determining the shareholders who are entitled to receive dividend, bonus or rights shares of the company.
The ex-date, which is two clearing days before the record date. It is the date on which the seller, and not the buyer, of a stock will be entitled to a recently announced dividend, bonus or other corporate action.
Mahindra and Mahindra, Balkrishna Industries, Castrol India and Vakrangee announced bonus issue by way of capitalisation of reserves in the ratio of 1:1 (i.e. one share for every one share held) to the members.
At 10:37 hours IST, the stock price of Mahindra and Mahindra was down 2.65 percent at Rs 750.50, Balkrishna Industries was down 3.97 percent at Rs 1,203.10 and Castrol India down 1.74 percent at Rs 205.90 whereas Vakrangee was up 2.2 percent at Rs 388.55 on the BSE.
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