Shares of Tata Steel started trading ex-split in Thursday's deals, a day ahead of its record date that has been fixed on Friday. The stock split has been announced in the ratio of 10:1 on its equity shares.

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The 10:1 ratio means Tata Steel will give 10 equity shares having a face value of Re 1 each on every one existing share having a face value of Rs 10 each.

Tata Steel's board had earlier in May given its nod for the proposal to split its shares in a 10-to-1 ratio along with announcing its Q4FY22 results.

"The Board considered the proposal for sub-division of 1 equity share of the Company having face value of Rs 10/- each into 10 (Ten) equity shares having face value of Re 1/- each."

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The stock split will help the company to increase liquidity, making shares more affordable to small investors, and helping increase the trading volume as well.

Tata Steel declared a consolidated profit after tax (PAT) of Rs 7,765 crore for the quarter ended June 2022. The net profit went down by 12.8 percent, compared to Rs 8,907 crore a year ago in the same period.

At 3.21 pm, Tata Steel shares traded at Rs 100.40, up around 5 percent on BSE.

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First Published:Jul 28, 2022 3:23 PM IST