Tata Steel Share price jumps 5% after Stock Split: Tata Steel Shares were up 5 per cent at Rs 100.45 on the BSE in Thursday’s intra-day trade. This change took place after stock turned ex-date for subdivision of shares in a ratio of 1:10 today.
At 11:30 AM; Tata Steel traded 4 per cent higher at Rs 99.75, as compared to 1.5 per cent rise in the S&P BSE Sensex. A combined 72.52 million equity shares have changed hands on the NSE and BSE. In past two weeks, on an average sub 7 million shares were traded on the counter before stock split.
In the past 1 month, Tata Steel stock gained 13% against a 6.5% rise in the Sensex. However, in the last 3 months, the stock has underperformed the market by falling 21 per cent, as compared to 1.6 per cent decline in the benchmark index.
Tata Steel company had fixed Friday, July 29, 2022 as the ‘Record Date’ for determining the eligibility of shareholders for sub-division /split of every one fully paid-up equity share having face value Rs 10 each in the share capital of the company, into ten fully paid-up equity shares having face value Re 1 each.