Moreover, over the past year, it has surged 51 per cent as against 17 per cent rise in the benchmark index.
In the past three months, the stock has rallied 13 per cent as compared to a 5.7 per cent decline in the S&P BSE Sensex. Tata Steel has outperformed the market in the recent past with a wide margin. Currently, it is trading 12.71 per cent below its 52-week high and 56.7 per cent above its 52-week low. The share 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. Sub-division of shares enables to improve liquidity and further makes the stock affordable for investors.Īt 9:40 am, Tata Steel was quoting at Rs 1,339.60, up Rs 20.35, or 1.54 per cent, on the BSE. Generally, during a stock split, the number of outstanding shares rises while the price per equity share gets cheaper proportionately. Tata Steel Stock Split: What it Means for Investors However, the company is yet to specify the ratio of stock split but will most likely give the information after the board approves the proposal on May 3. Notably, the board will be meeting to consider and take on record the audited Standalone and unaudited Consolidated financial statements and results for the quarter ended March 31, 2022.
“A meeting of the board of directors of the Company will be held on May 03, 2022, to consider a proposal for sub-division of the equity shares of the Company having a face value of Rs 10 each, in such manner as may be determined by the board of directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company,” Tata Steel said in an exchange filing. Going forward, the Tata Steel board will consider the recommendation of dividends for the financial year ended March 31, 2022, also on the same day. While continuous operations will ensure operational stability, their renewed focus will be on converting existing assets to green technology and investing in clean companies that are reshaping entire industries.Tata Steel Stock Split: Tata Steel Ltd (TSL) in its forthcoming board meeting of the company on May 3 will consider the sub-division of equity shares. The board will consider a proposal to split its equity shares bearing a face value of Rs 10 apiece, the company stated in an exchange filing. The company has also stated that in its core industries of energy, infrastructure, metals & mining, and technology & services, it has planned large expenditures.
After consolidating our businesses over the last 4 years, we have now entered the next growth phase focused on helping build a sustainable energy future that will impact lives and livelihoods for a greener world.” Prashant Ruia, Director, Essar Capital, said, “Essar is now repositioned for growth and resurgence. It is mentioned in Essar's statement that these assets under Energy sector include a 10 MTPA refinery in the United Kingdom (UK), 15 TCF reserves (including some producing fields) of Unconventional Hydrocarbons in India & Vietnam and a 1,200 MW Power Plant in India Infra sector assets include a storage terminal in UK of 3 million m3 capacity and a 20 MTPA Port in India Metals & Mining sector assets include a major iron ore mine and pellet project in USA Technology & Services sector assets include Global EPC business and IT solutions provider with centers across 30+ countries. Unlocking opportunities in Metal and MiningĪdani Power gets NCLT nod to acquire Essar's 1,200 MW Mahan project.
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