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Shares of Persistent Systems have dipped 7% to Rs 867 on the National Stock Exchange (NSE) after the stock turned ex-bonus today.
The board of directors of information technology (IT) consulting and software company at its Extra-ordinary General Meeting held on February 26, 2015 approved issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held in the company.
The company fixed record date as March 11, 2015 for the purpose of ascertaining the entitlement of the members for the issue of bonus issue of 1:1.
The stock opened at Rs 905 and touched a low of Rs 852 on NSE so far. The counter has seen huge trading volumes with a combined 288,513 shares changed hands till 1107 hours, compared with a average around 100,000 shares that were traded daily in past two weeks before ex-bonus.
