This Maharatna stock fixes record date for stock split: Check details here

This Maharatna stock fixes record date for stock split: Check details here

Market


SAIL, or Steel Authority of India, is a large-cap company with a market valuation of 28,087 crore that is involved in the iron and steel industry. One of India’s largest steel producers having a Maharatna status under the Central Public Sector Enterprises is Steel Authority of India Limited (SAIL). The record date for the stock split has been set by the company’s board as of July 13, 2022.

The company has informed BSE today and said in its filing that “Pursuant to Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Wednesday, July 13, 2022, as the Record Date for the purpose of determining Record Date for sub-division/split of each equity share having face value of Rs. 10/- (Rupees Ten Only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One Only) each fully paid up.”

The stock has fallen more than 48 per cent in the past year, while on the NSE, the stock has plummeted more than 8 per cent year-to-date (YTD) in 2022. The stock has fallen more than 37% over the past six months and more than 7% over the past month. The stock has climbed by over 3% per cent over the past five trading days, though, and on Friday it closed at Rs. 68.15, up 1.34 per cent from its previous closing of Rs. 67.25. Based on the last traded price, the stock is trading higher than the 5-day moving averages but lower than the 20-day, 50-day, 100-day, and 200-day moving averages. The stock has been gaining over the past two days and has climbed 2.26 per cent. On the NSE, the stock touched a 52-week-high of 145.90 on 30th July 2021 and a 52-week-low of 63.60 on 20th June 2022 indicating that at the current level the stock is trading 53.28% below its 52-week-high and 7.15% above from its 52-week-low. Based on TTM results ending March 22, the stock’s PE is 2.29.

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