- 28 Jul 2022
- ICICIdirect Research
Tata Steel turns ex-split today…TATASTEEL - 104 Change: 1.10 (1.07 %)
News: In May 2022, Tata Steel had announced stock split in the ratio 10:1. Under Tata Steel's stock split, one equity share having a face value of Rs10 each will be sub-divided into 10 equity shares having a face value of Rs 1 each. Hence, the ratio of 10:1 on equity shares. The record date for the same is 29th July, 2022 while the ex-date for the same is 28th July , 2022 (i.e. today).
Views: In Tata Steel's stock split a shareholder's one equity share in the company will increase to 10 shares and correspondingly the face value of the share would be adjusted (reduced) to Rs1 each from Rs 10 each earlier. So as to give the effect of the split Tata Steel share price would be adjusted to opening price of ~Rs 95.9/share from closing price of ~Rs 959/share yesterday. Tata Steel had received shareholders' approval at the 115th annual general meeting of the company held on June 28, 2022.