Infosys shares down nearly 3%; goes ex-bonus

MUMBAI: Shares of Infosys fell by nearly 3 per cent in intraday trade as the stock price factored in the issuance of bonus shares tomorrow to existing investors.

The stock of the IT major fell as much as 2.72 per cent to Rs 2,116 on the BSE today.

It ended the day at Rs 2,127.95; 2.18 percent, on the BSE.

At the NSE, it was down over 2 per cent to Rs 2,115. Marketmen said that profit-booking pulled down the stock as the company went ex-bonus.

The bonus issue was announced in October, when Infosys reported its second quarter numbers. It had recommended a bonus issue of one equity share for every share held.

Infosys had informed stock exchanges last month that the company has fixed record date as December 3, 2014 for the purpose of allotment of bonus shares/stock dividend.

The issuing company fixes a particular date which is termed as record date when the investor must own shares in order to be eligible to participate in events like receiving dividend, bonus shares.

Bonus shares are free shares given to the existing shareholders of a company.