Why is there percentage difference shown in price movements in south bank in other apps and zeroadha
Today is the ex-date and record date for the Rights Issue of South Indian Bank. On Kite, the previous closing price is adjusted as per the ratio of rights issue. This is done to give a correct interpretation of price movement on the ex-date of the corporate action. You can check out this post to learn how rights issue impacts stocks price: What effect does rights issue have on stock price? - #3 by ShubhS9
Likewise, the charts on Kite too are adjusted for corporate actions such as bonus, stock splits, rights issues, spin-offs, and extraordinary dividends, i.e. dividends of 2% and above of the underlying stock’s market value.
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