What is stock split?

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What is stock split?

A large number of banks including SBI, ICICI Bank, Axis Bank and PNB decided to split their stocks to enhance retail holding. Stock split is a process through which in India the face value of a share is equally divided. For example, SBI will split its shares of Rs 10 face value into 10 shares of Re 1 each. Post the split, the market value of the share also is adjusted by the ratio of the split. Suppose the stock price of SBI is Rs 2,700 now. If the stock starts trading on an ex-split basis, the stock price will be adjusted to Rs 270. For investors, if you are holding 10 SBI shares, from the exsplit day you will have 100 shares of the bank in your demat account but the total value of your holding will remain unchanged at Rs 27,000.

 

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