Tata Steel Announces Record Date For Stock Split: Details Here

Tata Steel Ltd was established in India as Asia's first integrated private steel company in 1907. The company has also developed India's first industrial city at Jamshedpur. It has now emerged as the leading global steel companies. It has recorded annual crude steel capacity across Indian operations nearly 20 MnTPA and declared a turnover of Rs ,037 crore in FY21.

The board of Tata Steel Ltd has fixed record date for stock split. The record date is the date when the existing shareholder must own the stock to become eligible to get the new shares obtained by a stock split. Meanwhile, in case you happen to buy or sell shares between record date and effective date, then the right to new shares will transfer.

1. Tata Steel Board Fixes Record Date For Stock Split

The large-cap company's board has announced the record date and in the BSE filing stated, "In terms of Regulation 42 (2) of the SEBI Listing Regulations, the Company has fixed Friday, July 29, 2022 as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every one fully paid-up Ordinary (equity) share having face value Rs. 10/- (Rupees Ten only) each in the share capital of the Company, into ten (10) fully paid-up Ordinary (equity) shares having face value Re. 1/- (Rupee One only) each, as approved by the shareholders at the 115th Annual General Meeting of the Company held on June 28, 2022."

2. Tata Steel Stock Outlook

The current market price of the stock is Rs 885 apiece and it fell 1.57% in yesterday's trading at the close. The 52-week high is Rs 1534 apiece and 52-week low is Rs 596 apiece. It is a company with strong financials and low PE. The PE of the stock is 2.70 and sector PE is 4.49. The market capitalization is Rs 108,228 crore.

Currently, the stock of Tata Steel is trading at a discount of 42% from its highs.

3. Tata Steel Dividend History

It has an outstanding dividend history and regularly declared dividend for the last 5 years. It had declared a solid equity dividend of Rs 51 per share for the year ending March 2022. The dividend yield is also good at 5.76%. It has been declaring dividends since 2001.

4. Tata Steel Company Overview

Tata Steel declared a 47% jump in its consolidated profit for the three months ended March 2022. It announced a net profit at Rs 9,756 crore for Jan-March tenure as compared to Rs 6,644 crore announced in the same period a year ago. Its Indian product portfolio is divided into four segments - Automotive and Special Products; Industrial Products, Projects and Exports; Branded Products and Retail; and Services and Solutions. The Company supplies hot-rolled, cold-rolled, galvanised, branded solution offerings and more.