aqua2006, the face value of a share is of course the original Rupee value of the share specified by the issuing company. It's the price of the stock shown on the certificate in the days of certificates.
The folowing is a link to a query on stock splits:
http://www.traderji.com/36306-post3160.html
You'll come across the term 'liquidity' in that post.
Simply, liquidity means how easy it is to buy and sell a share without infuencing a change in the current prevailing price.
If you buy a 100 stocks at RS. 50 and sold them immediately after, then the market for that particular stock is quite liquid.
So, liquidity is the ability of a share to be converted into cash quickly, meaning buy or sell, without much influencing the current price range.
But instead, if you were unable to sell the 100 stocks, or could sell only a few, the market for that stock is illiquid.
In a very liquid stock you could buy a thousand stocks without much raising the prevailing price.
Normally in a liquid stock, the bid/ask spread is quite minimal.
The bid-ask spread and traded volume of a stock are closely related and play an important role in the liquidity.
A buy/sell transaction can take place only when the buyers and sellers agree on price.
The bid is the highest price being offered for the stock at any given time by the buyers.
The ask is the lowest price at which the stock is being offered at by the sellers.
Because these two prices must meet in order for a transaction to take place, large bid-ask spreads imply a low volume for the stock, while a minimal bid-ask spread imply high volume.
Hope the link above, and this post help clear your doubts.
All the best.