La Opala RG trades ex-bonus today; stock falls 12%

The stock dipped 12% to Rs 288 on the BSE as the stock adjusted for the bonus shares in the ratio of 1:1 with effect from today.

La Opala RG has dipped 12% to Rs 288 on the BSE as the stock adjusted for the bonus shares in the ratio of 1:1 (i.e. one bonus share for every one share held on the record date) with effect from today.

The Company has fixed Friday, March 23, 2018 as the record date in order to determine the eligible shareholders to receive bonus shares. The Members whose names will appear in the register of members of the Company and/or Register of beneficial owners maintained by the depositories at the close of business hours on March 23, 2018, will be entitled to receive the bonus shares.

The board of directors of the company at their meeting held on February 5 had approved the bonus shares to the shareholders of the company in proportion to 1:1.

Since February 5, the stock outperformed the market by gaining 8% as compared to 5.5% decline in the S&P BSE Sensex till Wednesday.

At 10:06 am; it was trading 11% lower at Rs 290 on the BSE, against 0.3% rise in the benchmark index. A combined 109,222 equity shares changed hands on the counter on the BSE and NSE.