Godfrey Phillips India Surges 8% on Ex-Bonus Date

Godfrey Phillips India Limited shares jumped 8.12% in morning trade, reaching ₹3,687 after turning ex-bonus. The cigarette manufacturer saw trading volumes surge following the 2:1 bonus share adjustment, which caused an automatic price correction from ₹10,229 to reflect the new share count.

The stock's strong performance—trading well above the adjusted base price of ₹3,410—reflects robust investor confidence. Trading activity was notable, with 13.81 lakh shares worth ₹504.05 crore changing hands and buy orders outpacing sell orders nearly four-to-one.

Bonus issues often signal financial strength and growth potential. While expanding the share count, this MOVE maintains the company's market capitalization at approximately ₹57,300 crore. Shareholders of record as of September 16 will receive two additional shares for each held, pending approval at the 2025 AGM.