Can u throw some light on 3IINFOTECH stock. 1000 shares became 100! And started showing loss in my a/c. Worried
Hi @Kaleru_Srinivas
3I Infotech Ltd. has undergone a scheme of reduction of capital and subsequent consolidation of shares, the record date for which was 2021-08-31. As per the scheme, the face value (FV) of each share is reduced from Rs 10 to Rs 1. Further, 10 equity shares each of Rs. 1 each is consolidated into 1 fully paid-up equity share of Rs. 10/- each.
The consolidated shares as a result of the corporate action are credited to your demat account and the buy average of the shares will be showing up after the adjustment for the corporate action. You can go through this support article for more information on how the consolidation of shares affects the price of the stock.