Question on stock split

So this is the story of what happened with Aurobindo Pharma.

AUROBINDO PHARMA LIMITED (AUROPHARMA) has announced a record date on February 11, 2011 for the purpose of ‘Face Value Split of shares from Rs. 5 per share to Re. 1 per share’. Accordingly, the ex-date has been set up by NSCCL in the Normal Regular Market as February 10, 2011 for settlement number N-2011028. Due to the sub division of shares, NSDL shall issue new ISIN corresponding to existing ISIN of AUROBINDO PHARMA LIMITED (AUROPHARMA). This shall be effective for all outstanding balances of the security as on February 11, 2011 in various beneficiary accounts available with the depositories.

What i understood was each stock was going to be split into 5 so the shareholders would get 5 shares for each held before the stock split.

But that's not what happened? Did I read the captions wrong?

somebody please help me understand this.

If this is not then what happened... when stock split takes place, the quantity of stock in your dmat should have gone up by 5 times. At the same time, the traded price gets reduced by 5 times. Aurobindo price was 1098 on 9th feb and next day, it opened at 225.

Have you checked your dmat holding statement else better to check with your dmat hodling institute directly.

Thanks AW10,

I did check my holding statement and you're right it was there. I use ICICIdirect and the portfolio management tool couldn't update the stock split and I guess i was reading it wrong.

Thanks a lot for your help.....I thot i was a loser in this trade.

:clapping:

ICICI Portfolio is not automatically updated in case of Stock Split. It shows old quantity and old purchase price. However, the Demat allocation correctly shows the quantity after split.

-Anant