Ashok Leyland Ltd. shares began trading ex-bonus on Wednesday after the commercial-vehicle maker implemented a 1:1 bonus share issue. Investors on the company’s register as of the 16 July record date will receive one additional share for every share held, with the deemed allotment set for 17 July and the new shares scheduled to start trading on 18 July. The corporate action, Ashok Leyland’s first bonus issue since 2011, led to a mechanical adjustment in the stock price; the shares were quoted about 1 percent lower in morning trade at roughly ₹124, reflecting the doubled share count. Before the adjustment, the stock had closed at ₹250.85 on Tuesday, capping a 6.5 percent gain over the past month and a 12.6 percent advance year-to-date. The bonus follows the Hinduja Group company’s strong fiscal-year performance, including a 38 percent year-on-year rise in March-quarter net profit to ₹1,246 crore and a full-year profit of ₹3,303 crore. The firm also announced a ₹4.25 per-share dividend, implying a total payout of about ₹1,248 crore.