March 9, 2016 / 5:47 AM / 2 years ago

BUZZ-India's Mindtree erases YTD gains as ex-bonus trading starts

** India’s Mindtree Ltd slumps as much as 10.73 pct, erasing year-to-date gains, as shares start trading ex-bonus

** Stock, now down 10.5 pct at 692.30 rupees, is track for its worst day since July 2009

** Mindtree said on Feb. 29 that it would issue one bonus share for each one share held; shares start trading ex-bonus on Wednesday

** Investors adopt popular “bonus stripping” strategy of booking a loss on ex-bonus day to avail of tax benefit - traders

** Including Wednesday’s losses, stock is down 3.5 pct YTD vs a 8.5 pct drop in the Nifty Midcap 100 index (RM: manoj.rawal.thomsonreuters.com@reuters.net)

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