Jindal steel stock split

#1
I bought jindal steel on 9th september 2009 at Rs.3350. the Company has given stock split as 1:5. I would like to know when will I get splitted shares??
 

vasa1

Active Member
#2
I bought jindal steel on 9th september 2009 at Rs.3350. the Company has given stock split as 1:5. I would like to know when will I get splitted shares??
It is a bonus and not a stock-split.... The stock already has FV = Rs. 1.00.

Jindal Steel & Power Ltd. has informed the Exchange that the shareholders of the Company have, in their Extra-Ordinary General Meeting held on September 04, 2009 approved issuing of 5 bonus shares of Re. 1/- each on every existing equity share of Re. 1/- each. Further, the Company had informed the Exchange regarding the closure of the Register of Members and share transfer books of the Company from September 16, 2009 to September 17, 2009 for determining the eligibility of shareholders for payment of dividend for the year 2008-09. The Company has now informed the Exchange that the Book Closure dates as mentioned above shall be treated as applicable for determining the eligibility of shareholders for : (1) Payment of dividend for the year 2008-09; and (2) Issue of Bonus Shares.
 
#3
why Jindal Steel fell down about 80% on 14'th sep. As it is mentioned it had decleared bonus in ration 1:5. split is a case where down fall is understandable. why it happens in case of bonus??
 
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