Tata Steel Record Date For Stock Split Is Approaching Fast: Key Takeaways

Tata Steel Ltd came into existence in India as Asia's first integrated private steel company in 1907. Tata Steel has established India's first industrial city at Jamshedpur. The company 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 91,037 crore in FY21.

Tata Steel has set up its second greenfield steel plant of 3 MnTPA in the eastern state of Odisha in 2016; the expansion to 8 MnTPA in currently underway. The company on July 8 held a meeting for stock split in the ratio of 1:10 and announced July 29, 2022 as the record date. The market capitalization is Rs 114,813 crore at the time of writing the story.

Record Date: 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.

Below are details related to record date for stock split of Tata Steel:

1. Tata Steel Record Date For Stock Split Is Just 1-Week Away

The board of directors of the company has declared the record date and in the BSE filing specified, "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 940.95 apiece with a gain of 0.71% till 12:59 pm. Tata Steel's 52-week high is Rs 1534 apiece and 52-week low is Rs 827 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 stock has given a return of 11.68% in the last 30 days while in 3 years it has given a return of 101%. In 5 years, the stock has given 69% return.

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 operates in the sector of metals-ferrous. The company's top management includes Ratan N Tata, David W Crane, Mallika Srinivasan, O.P. Bhatt etc. Tata Steel's 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.