Infosys falls 5% in four days after turning ex-bonus

The stock down nearly 2% to Rs 2,065, fallen 5% in four days after the IT major went ex-bonus on December 2.

Shares in Infosys are trading lower by nearly 2% to Rs 2,065, extending its past three day’s fall on the National Stock Exchange (NSE), after the stock turned ex-bonus on Tuesday, December 2.

In past four trading sessions, Infosys has declined 5% or Rs 110 from Rs 2,175 (adjusted to bonus shares) on December 1, after the IT major went ex-bonus.

The stock opened at Rs 2,115 and touched a low of Rs 2,062 on NSE so far. Till 1317 hours, a combined 2.16 million shares changed hands on the counter on NSE and BSE.

The board of directors, at their meeting on October 10, 2014, had recommended a bonus issue of one equity share for every equity share held. Since then, the stock rallied 19% from Rs 1,823 on October 9, as compared to about 9% rise in the benchmark CNX Nifty.