New Delhi, Jan. 2 -- Shares of Multi Commodity Exchange (MCX) are flashing an 80% fall from its last closing price on Friday, January 2. However, investors should note that this is not a real loss; in fact, the stock is trading on a positive note.
Since MCX shares have adjusted to the 1:5 stock split, with January 2 being the record date for the corporate action, each existing share has been split into five shares. Due to this, the MCX share price is automatically adjusted to one-fifth of the pre-split price.
As a result, some charts are reflecting an 80% fall from its last closing price of Rs.10,989 on the NSE, but this is only a technical adjustment, not a real loss. Adjusted for the stock split, MCX's closing price for Thursday (Janu...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.