Fineotex Chemical Ltd shares plunged nearly 90 per cent intraday on Friday as the stock adjusted for its bonus issue and stock split. The scrip, which had closed at Rs 248.60 apiece on the NSE in the previous session, opened at Rs 25.25 apiece—down 89.7 per cent—triggering confusion among investors. Advertisement

The sharp decline was purely a result of corporate action adjustments. The company’s shares were split from a face value of Rs 2 each into smaller units with the same face value, and Friday was also the ex-date for its 4:1 bonus issue. Some brokerage trading apps may still be displaying the unadjusted price, making the fall appear more severe than it actually is.

In fact, adjusted for corporate actions, the stock was up 8.45 per cent at Rs 26.95 a piece.

In effect, for every o

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