Tata Steel to consider 3 way stock split on May 3

In a statement Tata Steel said, its board, will be meeting on May 3 to consider a proposal to split the stock and recommend a dividend.

Tata Steel did not specify the ratio of the stock split, but said, it would consider a sub-division of the shares with a nominal value of 10 Indian rupees each.

Any stock split would be subject to regulatory and statutory approvals.

On May 3, the company will also announce results for the quarter ended March 31, said Tata Steel.

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