tata steel stock split, Tata Steel Ltd (TSL) will consider sub-division of equity shares in its upcoming board meeting of the company on May 3. The company said in an exchange filing that the board will consider the proposal to split its equity shares of face value of Rs 10. Going forward, the Tata Steel Board will also consider the recommendation of dividend for the financial year ended March 31, 2022 on the same day.
“A meeting of the Board of Directors of the Company shall be held on May 03, 2022 to consider the proposal for sub-division of the equity shares of the Company with a face value of Rs.10 each, as may be the case with Tata Steel. said in an exchange filing, subject to regulatory/statutory approvals and approval of the shareholders of the company, as prescribed by the board of directors.
Specifically, the Board will meet to consider and take on record the audited standalone and unaudited consolidated financial statements and results for the quarter ended March 31, 2022. Though the company has not specified the ratio of the stock split, it is most likely given after the board cleared the proposal on May 3.
Tata Steel stock split: What it means for investors
Generally, during a stock split, the number of outstanding shares increases, while the price per equity share becomes proportionately cheaper. Subdivision of shares enables improved liquidity and makes stocks more affordable for investors.
Tata Steel stock split: Shares jump
At 9:40 am, Tata Steel was bidding Rs 1,339.60, up Rs 20.35 or 1.54 per cent on the BSE. The stock touched a 52-week high of Rs 1,534.60 and a 52-week low of Rs 854.90 on August 16, 2021 and April 19, 2021, respectively. It is currently trading 12.71 percent below its 52-week high and 56.7 percent above its 52-week low.
Tata Steel has outperformed the market by a wide margin in the recent past. In the past three months, the stock has gained 13 per cent, compared to a 5.7 per cent fall in the S&P BSE Sensex. Moreover, it has gained 51 per cent in the past one year as against a 17 per cent rise in the benchmark index. It hit a record high of Rs 1,535 on August 16, 2021.
Last month, at its board meeting held in March 2022, Tata Steel appointed Noel Naval Tata, a trustee on the board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust, additional director, and named him as vice-chairman. Was.
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