Gail had made an announcement on bonus shares on February 12, 2018. The ratio was one bonus share for every existing equity share i.e. 1:3. The stock has turned ex-bonus today while the record date for the same is March 29, 2018. Consequently, Gail's share price, as per yesterday's closing price, has dropped to | 318/share from | 424/share. Hence, now our target price also stands revised to | 383/share post bonus issue of equity shares....