Ashok Buildcon goes ex-bonus

.Ashok Buildcon rose almost 17% today morning to Rs.186.20, which is Rs.10 away from its 52-week high of Rs.196.73.

The stock has surged only because it has gone ex-bonus from today.

The company had recommended bonus issue of equity shares in the ratio of 1 equity share for every 2 equity shares of Rs 5 each.

Ex-bonus means that the shareholders who buy the shares today, will not be entitled to the bonus. But instead of falling, which is what typically happens, the stock price has risen ex-bonus also. That shows the strength of the market today and the demand for quality mid-cap stocks.Ashok Buildcon rose almost 17% today morning to Rs.186.20, which is Rs.10 away from its 52-week high of Rs.196.73.Ashok Buildcon rose almost 17% today morning to Rs.186.20, which is Rs.10 away from its 52-week high of Rs.196.73.