I had 21 shares of SMS Pharma on the day of split 10:1, so I should get totally 210 of the split stocks. But I sold 20 of unsplit stock at the split rate the next day before they credited the 190 stocks. But I received only 10 (for 1 unsplit remaining in my) stocks so far. Can someone tell me what happens when you sell the stocks before the splits were credited in your DP account?
|Purpose||Rs.||Ex-date||Book Closure/Record Date|
|Stock Split From Rs.10/- to Rs.1/-||--||17-Dec-15||RD 18/12/2015|
Ex-Date : As the name suggests, Ex-date is the date on which price effect will take place. Normally the price of the stock will drop to the extent of the split declared on the ex- date. If you holding stock on the Ex-date than you are eligible for the new share. You will NOT get the shares in case you are buying the stock on the ex-date.
In your case if you sold shares on Ex-date (17-Dec-15) your name will not come in the book of register for the 20 quantity which you have sold on Ex-date. Broker's name will come on company books for record and the shares will credit to brokers pool account. Broker have to transfer those shares to eligible share holder's account.