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Tata Motors had last split the face value of its shares from Rs 10 to Rs 2 in 2011.The share has been quoting on an ex-split basis from September 12, 2011 Splits History (Tata Motors) Announcement Date 26-05-2011 03-01-1996
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Ex-Split Date 12-09-2011
Old FV 10 100
New FV 2 10
Several companies, including ONGC, Bhel, MMTC, Bajaj Corp and LIC Housing, have announced stock splits in the past 12 months after a sharp spurt in their share prices. The stock split will have to be approved by the companys shareholders. The Tata Motor stock has jumped 64 per cent since May last year and closed today at Rs 1,161.25 on the BSE ahead of the results. A stock split will make the stock affordable and is likely to boost trading. The board has announced a dividend of Rs 20 per ordinary share against Rs 15 last year. The sharp turnaround at JLR was evident with the subsidiary posting a profit after tax of 1.04 billion on a net revenue of 9.9 billion. Sales volumes improved to 243,621 from 193,982 a year ago, on the back of improved market conditions, better market mix with strong growth in China, strong response to product introduction, including the new XJ and Land Rover models and favourable exchange rates, the company said
The Tata Motors management warned of headwinds in the form of rising input costs and competitive pressures. Increased infrastructure spending in the country was, however, expected to boost demand for its trucks. In India, Tata Motors sales (including exports) of commercial and passenger vehicles stood at 836,629 units, a growth of 25.2 per cent over last year. While commercial vehicle sales rose 22.7 per cent, passenger vehicles, including Fiat and JLR distributed in India, grew 23 per cent. C. Ramkrishnan, chief financial officer, said sales of the Nano crossed 1,00,000 during the year. Cost pressures, including rising commodity prices, have brought down the operating margins to 9.9 per cent and the earning before interest tax depreciation and amortisation of Rs 4,771 crore was 14 per cent higher than last year. After Mamata Banerjees victory in the recent elections, the Bengal government has talked about taking back at least 400 acres of the 997 acres at Singur where the Tatas were originally supposed to set up the Nano plant. The company said it did not feel it was necessary to make a provision for the carrying cost of the building at Singur.