Shares of diamond jewellery maker and exporter Goldiam International turned ex-bonus on Friday, making it appear to have crashed 24% in a single day, when in reality it only adjusted to the 1:3 bonus issue.
Shares of Goldiam International opened at Rs 321.5 apiece on the NSE on Friday, sharply lower than Thursday's closing price of Rs 420.50 apiece. However, the decline was solely due to the bonus share adjustment and did not reflect any loss in shareholder value.