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M&M down 3%, Vakrangee hit new high as stocks turn ex-bonus

M&M, Balkrishna Industries and Castrol India were down 3%, while Vakrangee hit a new high of Rs 405, up 7% on the BSE in early morning trade.

SI Reporter  |  Mumbai 

M&M and two others down 3%; Vakrangee hit new high as stocks turn ex-bonus

Shares of (M&M), and were down 3% in early morning trade after these stocks turn ex-on Thursday.

While hit a new high of Rs 405, adjusted to issue, was up 7% on the BSE in intra-day trade. The board of directors of the respective companies had announced shares in the ratio of 1:1 i.e. one share for every share held as on record date. These companies have fixed December 23, 2017 as the record date for the purpose of determining members who would be entitled to the equity shares. Except, Castrol India, shares of M&M, and hit their respective new high after these companies announced that their respective board to consider issue. These stocks had outperformed the market by gaining up to 40% against less than 3% gain in the benchmark S&P BSE Sensex till Wednesday.

BALKRISHNA INDS 1212.70 1252.85 -3.20
M & M 749.00 770.90 -2.84
CASTROL INDIA 204.35 209.55 -2.48
VAKRANGEE 390.80 380.20 2.79

First Published: Thu, December 21 2017. 09:52 IST