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Larsen & Toubro, BPCL trade ex-bonus

BPCL and L&T were trading 1% higher at Rs 465 and Rs 1,173, respectively, at 09:20 am.

SI Reporter  |  Mumbai 

A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai
A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai

Shares of two Nifty 50 companies, (L&T) and Bharat Petroleum Corporation Limited (BPCL) are trading at their adjusted price of 1:2 shares.

The board of directors of and during last week of May, 2017, had approved issue of shares in the ratio of 1:2 (i.e. one equity share for every two fully paid equity shares held). has fixed July 14, while fixed July 15 as the record date to identify eligible shareholders for the purpose of shares.

At 09:20 am; was trading 1% higher at Rs 465 after hitting high of Rs 469 in early morning trade. too up 1% at Rs 1,173 on BSE. On Wednesday, and were ended at Rs 684 and Rs 1,740 (unadjusted to issue), respectively.

Post announcements, and have underperformed the market by falling 9% and 2% respectively, till Wednesday. By comparision, the S&P BSE Sensex was up 2% during the period.

First Published: Thu, July 13 2017. 09:23 IST
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