Shares of Anand Rathi Wealth turned ex-bonus on Wednesday and adjusted for the company's 1:1 bonus issue, making the stock appear to have plunged nearly 50% in a single session. The financial services company's shares opened at Rs 1,779.80 on the NSE, sharply lower than Tuesday's closing price of Rs 3,539.30. However, the decline was solely due to the bonus share adjustment and did not reflect any loss in shareholder value.
In fact, the stock was trading higher on an adjusted basis, gaining nearly 1% to Rs 1,782.40 at around 9:36 am.
