The Tesla stock has been in news for teh recet stock split. But several stocks in the Indian auto sector also underwent stock split in 2022. Here is a quick look at the stock split ratios and how the stocks are performing coupled with the fundamental drivers-
JBM Auto: The company split its stock on February 18 2022 though the board approved the decision tosplit the face value of its shares from Rs 5 to Rs 2 in December 2021. Over the last one year, the stock has risen a massive 125 percent. It is primarily due to the 52 percent plus jump in June quarter sales year-on-year. Bus electrification in India is one of the key drivers for the stock.
Schaeffler India: Schaeffler India had last split the face value of its shares from Rs 10 to Rs 2 and started trading ex-split starting February 8, 2022. On a one-year basis, this counter too has delivered 112 percent return on the back of strong sales in Q2CY2022, order wins from key automotive OEMs and hiving off of the chain drive business globally. The company plans to achieve carbon neutrality and targets zero emission by 2040.
Rajratan Global Wire: One of the leading manufacturer of high carbon steel wire in India, specialising in automotive tyre bead wire, the stock started trading ex-split from March 14, 2022 with the face value of its stock split from Rs 10 to Rs 2. On a one-year basis, the stock is up 200 percent and the key triggers include a strong growth outlook. In July, the stock soared close to 50 percent on expectation of further improvement in market share. The company also plans robust investment to expand capacity. It has a 72,000 TPA manufacturing facility in Pithampur near Indor along with another unit in Thailand, with a production capacity of 40,000 TPA.
Ramkrishna Forgings: The outlook for the forgings company is not too bright as electrification starts taking centre stage in the evolution of automotives. But Ramkrishna Forgings, in a bid to woo investors and diversify its retail base split from face value of Rs 10 for each stcok to a face value of Rs 2 each on March 14, 2022. On a one-year basis the stock is up 3 percent but since the split, it has gained close to 18 percent.
