Castrol India dips on turning ex-bonus

The company had fixed September 05, 2012 as the record date for the purpose of issue of bonus shares in the ratio of 1:1.

Castrol India is trading lower by over 3% at Rs 275, extending its Tuesday’s 3.2% fall after the stock turned ex-bonus yesterday.

“The board of directors of oil marketing and distribution Company at its meeting held on July 16, 2012, approved an issue of bonus shares in the ratio of 1:1. The company had fixed September 05, 2012 as the record date for issue of bonus shares,” Castrol India said in a filing.

The stock is the largest loser among A group stocks on the Bombay Stock Exchange. A combined 99,547 shares changed hands on the counter in morning trades on both the exchanges.