Brigade Enterprises shares rally 10% after bonus issue. Here's why you can ignore the 22% plunge

Brigade Enterprises shares rallied around 10% from their adjusted price to Rs 595.95 after the stock opened at Rs 559.70 post the bonus issue adjustment, down from Tuesday's close of Rs 720.25. The company issued 1 bonus share for every 3 shares held, with record date set as June 17, increasing share capital from Rs 250 crore to Rs 400 crore. The company reported FY26 net profit of Rs 725 crore and currently has a market capitalisation of nearly Rs 18,727 crore with a P/E ratio of around 32x.