Brigade Enterprises turns ex-bonus: Stock appears to crash 22%, but actually jumps 10%; here's what happened (opens original article in a new tab)

Brigade Enterprises shares initially appeared to fall 22% but actually rose 10% after a 1:3 bonus issue. The company increased its authorized share capital to facilitate the bonus, while reporting a decline in Q4 profitability.

• Shares of Brigade Enterprises appeared to drop 22% but actually gained 10% after adjusting for a 1:3 bonus issue.
• The bonus issue involved distributing one share for every three shares held, increasing share capital from ₹250 crore to ₹400 crore.
• Brigade Enterprises reported a 41.1% year-on-year decline in Q4 net profit to ₹145.5 crore, with revenue remaining largely unchanged.