Mumbai: Shares of IT major Infosys Tuesday ended over 2 percent lower as the stock price factored in the issuance of bonus shares to existing investors from tomorrow.
After falling 2.72 percent to Rs 2,116 in intra-day trade, shares of Infosys finally ended 2.18 percent down at Rs 2,127.95 on the BSE.
At the NSE, it ended with a loss of 2.20 percent at Rs 2,127.10.
In terms of volume, 2.95 lakh shares of the company changed hands at the BSE, while over 26 lakh shares were traded at the NSE during the day.
Marketmen said that profit-booking pulled down the stock as the company went ex-bonus.
The bonus issue was announced in October, when Infosys reported its second quarter numbers. It had recommended a bonus issue of one equity share for every share held.
Infosys had informed stock exchanges last month that the company has fixed record date as December 3, 2014 for the purpose of allotment of bonus shares/stock dividend.
The issuing company fixes a particular date which is termed as record date when the investor must own shares in order to be eligible to participate in events like receiving dividend, bonus shares.
Bonus shares are free shares given to the existing shareholders of a company.
