BSE share price crashes 66% in a day? Here’s what caused this huge drop
Shares of BSE Ltd. experienced a sharp fall of 66.6% on Friday after the stock began trading ex-bonus, marking the implementation of the company’s 2:1 bonus issue.
BSE had previously announced a 2:1 bonus share issue, which came into effect today, taking the price of the stock to Rs 2,335 on the NSE. However, on a post-adjustment basis, BSE shares rose 2.3% to their day’s high of Rs 2,389.
Investors who held shares of the company as of the record date, May 23, are now eligible to receive two fully paid-up equity shares of Rs 2 each for every one equity share they previously held.
To be eligible under the T+1 settlement cycle, investors needed to purchase BSE shares no later than Thursday, May 22, to ensure the shares reflected in…
