New Delhi, Sept. 16 -- Shares of Godfrey Phillips India seemed to plunge by more than 65% on Tuesday, September 16, surprising many investors as they noticed the steep drop in their demat accounts. However, this sharp fall was not due to any market correction or external factors, but a result of the company's 2:1 bonus issue, which came into effect today, tripling the number of shares held by investors while adjusting the stock price accordingly, without affecting the overall value of their holdings.

The cigarette maker's shares closed at Rs.10,229 on Monday, September 15. On Tuesday morning, the stock opened at Rs.3,501, a 66% drop that aligns precisely with the 2:1 bonus share adjustment, with the adjusted price set at Rs.3,431 per sha...