Shares of Tata Steel will trade ex-split on Friday as the company’s board has set the record date for the Tata Steel stock split as August 1, 2022.
The Tata group company has announced a 10:1 stock split in Tata Steel. Ahead of the ex-split trade, Tata Steel shares opened higher today and continued to hit an intraday high of ₹100.35 apiece on the NSE, registering a nearly 4 percent gain in morning trade on Thursday.
According to stock market experts, Tata Steel will continue to benefit from better demand in the domestic market due to the recovery in the auto sector, but much will depend on the recovery of steel prices in European markets.
If the price of steel is not reflected in European commodities, then in that case commodity stocks may come under pressure due to pressure on their margins.