Why is BSE Stock Down Today; A Crash or Technical Adjustment?

If you were waiting to see BSE shares making gains today in your portfolio, some apps would have sent you into shock today. The multibagger stock showed a 66% fall in some of the trading apps today at open. Now, such and information must have spurred your grey matters to dwell over questions such as – What is the trigger behind such a fall in share price? Did I miss any major update on the stock and that is why my portfolio is struggling to come out of losses?

Shares of BSE closed at Rs 6,996.50 in the previous session, but opened at Rs 2,358 on the NSE today, almost a third of the previous closing price. Well, these numbers are enough to spook the investors, but standalone data is not a story until any context or explanation accompanies it. So the explanation is that this steep fall is ‘virtual’ and a result of technical adjustment.

Decoding the Price Drop

The drop in the opening price of BSE shares is not due to any negative trigger, but due to technical adjustment. The stock price adjusted to the pre-announced bonus issue as it turned ex-date today. It is possible that some apps have not updated and adjusted the previous closing price, hence suggesting such a steep decline. But actually, the shares have gained as much as 5.5% over the opening price to touch its intraday high level.

Earlier this month, the company had pegged April 23 as the record date for determining the eligible shareholders for the bonus share. BSE said it would issue two equity shares for every share held in it, and thus the ratio for the bonus issue was 2:1. The company will issue the bonus shares on Monday, April 26, and the newly issued shares will be available for trade from Tuesday, BSE had earlier informed the exchanges.

BSE had 135.38mn outstanding shares as of March 31, 2025. It had said it will issue 274.65mn bonus shares amounting to Rs 549.31mn. The bonus Shares will be issued from and out of capital redemption reserves and general reserve as of December 31, 2024, BSE had said. It would require Rs 54.91 crore from the total general reserves and Rs 0.02 crore of capital redemption reserve for implementing the issue.

The company said it had Rs 414.06 crore of general reserves, Rs 2,141.63 crore of retained earnings, and only Rs 0.02 crore of capital redemption reserve as of December 31.

How Has the Stock Performed Lately?

There is nothing wrong is saying that BSE shares are multibagger in terms of returns. The stock has risen more than 160% in the last one year and more than 31% in 2025 so far. It has gained 12% in the last one month.

Shares of BSE have zoomed over 86% from September 26, the day on which Indian equities peaked. Meanwhile, the 50-stock Nifty 50 index has lost 6% since that day.

The company reported a near five times on-year increase in the consolidated net profit for the March quarter, while its revenue for the said period rose 75% on year. Its investment income also soared near 28% on year to Rs 70.33 crore. The board had also declared a total dividend of Rs 23 per share. This included a special dividend of Rs 5 and a normal dividend of Rs 18. Sequentially, BSE consolidated net profit more than doubled, while its revenue rose over 10%.