Wipro shares down 50%? Here’s why some apps are showing the wrong price
Wipro shares saw an unusual 50% drop on some trading apps on Tuesday, causing confusion among investors. However, the decline shown in certain brokerage platforms is not due to a genuine fall in the stock’s value.
The apparent drop is a result of Wipro’s 1:1 bonus issue, which has adjusted the share price to reflect the increased number of shares in circulation.
WHY WIPRO SHARES APPEAR TO BE DOWN
Wipro shares turned ex-bonus today in a 1:1 ratio. This means one additional fully paid-up share will be issued for every share held by existing shareholders. As a result of the bonus issue, the stock price has been adjusted proportionately.
At market open, Wipro shares were trading 1.09% higher at Rs 295.50 on the Bombay Stock Exchange (BSE)….
