The shares of information and technology major Wipro are trading 50 per cent lower on Tuesday, turning ex-bonus in the ratio 1:1. Adjusted for the bonus share, the stock of the company was trading 49 per cent down from yesterday’s closing price of Rs 584.

Wipro and other companies are implementing key corporate actions like bonus issues, stock splits, dividends, and rights offerings. Today, December 3, is the record date to determine shareholder eligibility for these actions.

Wipro stocks appeared down by 50%. However, the decline shown in certain brokerage platforms is not due to a genuine fall in the stock’s value.

Adjusted for the bonus issue, the Wipro stock was trading 1.09 per cent higher at Rs 295.50 on BSE at open. Wipro had announced a bonus share issue in the ratio of 1:1, fixing December 3 as the record date for determining shareholder eligibility.

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Under a 1:1 bonus issue, shareholders receive one additional equity share for every share held in the company.

A bonus issue increases the number of outstanding equity shares, but reduces share price in proportion to the number of bonus shares issued.