1:2 Stock Split, First In 15 Yrs; Not Tata Steel Or Hindustan Zinc, But Midcap Metal Stock Plans Split; BU?

Iron and steel products manufacturing company is going to split its shares for the first time since 2009. The stock has given double-digit 55% returns in 2024 so far, and its long-term performance is robust with gains of a whopping 855% on BSE. The metal giant stock will split into the ratio of 1:2, for which it has fixed a record date. It is neither top players like Tata Steel or Hindustan Zinc. But a midcap metal stock Jindal Saw.

As per the regulatory filing, Jindal Saw is planning for a stock split of 1:2 ratio, under which investors shares will double in numbers, while the price of per share will get cheaper for both new and existing traders.

The ratio of 1:2 mean that Jindal Saw will sub-divide 1 existing equity having face value of Rs. 2/- each, fully paid up into face value of Re. 1/- each, fully paid up.

The board of directors will consider the stock split proposal next week.

As per the regulatory filing, Jindal Saw has announced that "the meeting of Board of Directors of the Company scheduled for Wednesday, 14th August, 2024 has been rescheduled for Friday, 23th August 2024 at New Delhi, inter-alia, to consider and approve the proposal for alteration in the equity share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 2/- each, fully paid up into face value of Re. 1/- each, fully paid up."