Shares of HCL Technologies and Tech Mahindra today came under selling pressure as both counters turned ex-bonus today.
Scrip of HCL Technologies fell 2.49 per cent to Rs 978.95 on the BSE today. On the NSE, it was down over 2.67 per cent to Rs 976.50.
Similarly, Tech Mahindra slumped 2.03 per cent to Rs 685.80 on BSE and on NSE it fell 1 per cent to Rs 687.
Market participants said profit-booking pulled down the stocks as both firms turned ex-bonus.
HCL Technologies Ltd had fixed March 20, 2015 as the record date for the purpose of issue of bonus shares on the company's equity shares in the ratio of 1:1 (one additional equity share for every one equity share held).
Tech Mahindra Ltd had also fixed March 20 as record date for the purpose of ascertaining the entitlement of the members for the Issue of Bonus shares in the ratio of 1:1 and subdivision of the shares in the ratio of 2:1.
A share becomes ex-bonus when the purchaser does not have the right to receive the current bonus.
