Stock splits in 2023

A split cuts a share's face value, the nominal value printed on the share, into smaller units. A company splitting a ₹10 share into ten ₹1 shares gives a holder ten shares for every one held, and the price per share falls to about a tenth. Market cap, the share price multiplied by the number of shares, does not change by the split alone.

A bonus issue is different: it gives free extra shares and leaves the face value unchanged. Sub-dividing shares needs shareholder approval and an enabling clause in the company's articles, under Section 61 of the Companies Act, 2013.

The record date is the day the company checks its register of holders to decide who receives the split shares. The ex-date is the first trading day the share trades at its split-adjusted price; a buyer on or after that day does not receive the split.

Every share has settled on the next trading day (T+1) since 27 Jan 2023, so in 2023 the ex-date was normally the record date itself: Shaily Engineering Plastics went ex on its record date, 23 Nov 2023. When a record date falls on a weekend or market holiday, the ex-date is the trading day before; most of the few rows with two dates have a Saturday record date.

The page includes every split whose ex-date falls in 2023, grouped by month with the latest ex-date first. Each row shows the old and new face value, record date, ex-date, price with its day change, and market cap. Hindustan Aeronautics split from ₹10 to ₹5 in Sep 2023, and Varun Beverages from ₹10 to ₹5 in Jun 2023.

The ratio is read from the face value column: ₹10 to ₹1 is a 10-for-1 split, and ₹10 to ₹5 is 2-for-1.