Hello All,
As you might be aware, Indian Railway Catering & Tourism Corporation (IRCTC) has announced a Stock split. The company has set 29 October 2021 as its record date for sub-division of equity shares of ₹10 each into five equity shares of ₹2 each. To put it simply, against 1 current share you will have 5 shares in your demat account.
Once the process for stock split is completed by the company and its registrar, the share count will be updated in your demat account in 1 to 2 working days. Until then, your P&L will show a drop because it is being calculated at the original price, and not the updated price. Once the split is complete and share count has been updated, your account information and P&L will reflect the split-adjusted price.
We know this is a bit odd and not the best of the user experience. Unfortunately this is how the process is currently for splitting due to limitations beyond our control. We will work towards making this more seamless for sure. We hope this information is helpful.