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The Economic Times

Business

Debaroti Adhikary

Did Goodluck India shares really crash 66% in just one day? Here's how the bonus math works

Goodluck India India

Shares of Goodluck India, a manufacturer of precision engineering and steel products, appeared to have crashed nearly 66% in a single session on Friday after adjusting for its first-ever 2:1 bonus issue.

Goodluck India shares opened at Rs 493.20 apiece on the NSE on Friday, compared with Thursday’s closing price of Rs 1,439.40. On an adjusted basis, however, the stock was down only around 4%, trading at about Rs 471 apiece.

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