Gail (India) dipped 5% to Rs 369 on the National Stock Exchange (NSE) in early morning trade on profit booking as the stock started trading ex-bonus in the ratio of 1:3 i.e the issuance of one bonus share for existing three equity shares.
The company has fixed March 11, 2017 as record date for the purpose of allotment of bonus shares.
The stock corrected 8% from its 52-week high of Rs 401 (adjusted to bonus) hit during intra-day trade on Wednesday, March 8, 2017.
In the past six months, the stock had outperformed the market and appreciated 32% as compared to a marginal 0.25% rise in the Nifty 50 index till March 7, 2017.
At 09:54 am; it was down 3.4% at Rs 376 against 0.08% decline in the benchmark index. A combined 6.76 million shares changed hands on the counter on NSE and BSE so far.
The company has fixed March 11, 2017 as record date for the purpose of allotment of bonus shares.
The stock corrected 8% from its 52-week high of Rs 401 (adjusted to bonus) hit during intra-day trade on Wednesday, March 8, 2017.
In the past six months, the stock had outperformed the market and appreciated 32% as compared to a marginal 0.25% rise in the Nifty 50 index till March 7, 2017.
At 09:54 am; it was down 3.4% at Rs 376 against 0.08% decline in the benchmark index. A combined 6.76 million shares changed hands on the counter on NSE and BSE so far.
