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Adjusting Metastock data for Splits and Bonus

Before you can adjust your Metastock data for a stock Split or Bonus announcement, you need to know the information on the split such as the ex date and the ratio of the stock split. The required information can be obtained from the web sites of the stock exchanges. For NSE click NSE Stock Split/Bonus information.

  • What is an ex-date?

The first day of the no-delivery period is the ex-date. If there is any corporate benefits such as rights, bonus, dividend announced for which book closure/record date is fixed, the buyer of the shares on or after the ex-date will not be eligible for the benefits.

  • What is a split?

Split is book entry wherein the face value of the share is altered to create more number of shares outstanding without calling for fresh capital or without altering the share capital account. For example if a company announces a two-way split, it means that a share of the face value of Rs.10 is split into two shares of face value Rs.five each and a person holding one share now holds two shares

  • What is a bonus issue?

While investing in shares the motive is not only capital gains but also proportionate share of surplus generated from the operations once all other stakeholders have been paid. But the distribution of this surplus to shareholders seldom happens. Instead, this is transferred to the reserves and surplus account. If the reserves and surplus amount becomes too large, the company may transfer some amount from the reserves account to the share capital account by a mere book entry. This is done by increasing the number of shares outstanding and every shareholder is given bonus shares in a ratio called the bonus ratio and such an issue is called bonus issue. If the bonus ratio is 1:2, it means that for every two shares held, the shareholder is entitled to one extra share. Thus a shareholder holding two shares, post bonus holds three shares of the company. 

Procedure to adjust data for stock split

Start the 'Downloader' utility that comes with Metastock. Click the file menu and open the stock for which you want the adjust the data.

In the window that comes select the 'Adjust' menu and click on Split.


On clicking split, the split dialogue box as shown below will open. Enter the values as mentioned below

  • First Date : The first date for which data is available. Usually this is auto filled and we are not required to modify it.
  • Last Date : This is very important and needs to be provided. This is the day before the security's price changed or the last date BEFORE the split (i.e. the last stock exchange working date before ex-date)
  • Ratio : The split ratio.


Click OK to perform the split. Save the changes.