@surajs : (1)Dividend get adjusted on ex dividend day based on market price behavior of the day in cash market wherein F&O the future itself tend to trade lower by that amount from the start day .(2) Vedl (17),Hind ziinc(20), Ingersoll rand(210) ,Sherwani industries(80) were the cases where dividend amount announced was more than 5% of day’s closing price (Extra Ordinary Dividend )hence regulatory adjustment as in case of Bonus ,Rights etc .
Can u explain in what happened with VEDL case.
On ex-date ₹17 price adjusted by share in equity. Thats no problem as ₹17 divided we get. So no loss no profit.
But for future also opening price is lower than previous close that will be huge loss/profit for traders.