Ex-bonus boost for Gujarat NRE Coke
DALAL STREET SPIKES
| The stock turned ex-bonus yesterday with the BSE adjusting the scrip's closing price on Monday (April 19) to Rs 43.40, adjusted for a 1:2 bonus (Monday's actual closing price was Rs 65.10). Ahead of turning ex-bonus, the stock surged sharply as investors lapped up the stock cum-bonus for the purpose of tax shelter. |
| Investors have been using bonus to take shelter in recent months taking advantage of the loopholes in the Income Tax Act. From a low of Rs 43.65 on March 15, the stock has gained nearly 50 per cent to 65.10 on April 19, the last time the stock traded cum-bonus. |