Oil India trades 1:3 ex-bonus; stock down over 5%

In past two-months, the stock had rallied 19% as compared to 1% rise in Sensex till Wednesday.

Oil India slipped nearly 6% to Rs 342 on the BSE in intra-day trade on profit booking in otherwise firm market as the stock traded ex-bonus on Thursday in the ratio of 1:3.

The state-owned oil exploration & production company has fixed January 13, 2017 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:3 i.e. 1 bonus equity shares of Rs 10 each for every 3 existing fully paid up equity share of Rs 10 each.

In the past two-months, the stock outperformed the market and rallied 19% as compared to 1% rise in the S&P BSE Sensex till Wednesday.

At 09:43 am; the stock was down 5% at Rs 343 against 0.46% rise in the benchmark index. A combined 595,892 shares changed hands on the counter on the BSE and NSE.