Brigade Enterprises turns ex-bonus: Stock appears to crash 22%, but actually jumps 10%; here's what happened

Brigade Enterprises turned ex-bonus following its 1:3 bonus issue, with the stock opening at an adjusted price of about 559.70 rupees versus the previous close of 720.25 rupees. The apparent 22 percent decline is purely a technical adjustment for the bonus issue, with the underlying share value actually rising by around 10 percent.