Abstract
With a sample of 65 businesses listed on the Bombay Stock Exchange from 2008 to 2021, the focus of this research is to examine any notable changes in trading volume activity before and after a company's stock split announcements. An event window of 61 days is used to calculate the number of stocks traded on daily basis. According to the findings of the individual company level investigation, trading volume increased for 37 companies, while it decreased for the other 28. However, the results of just 21 of the companies are statistically significant. Trade volume has increased in eight sectors while declining in three others, according to a sectoral analysis of the trading volume. Stock splits enhance post-split liquidity for the vast majority of sample businesses in the month after the split, according to the study's empirical findings, as assessed by daily trading volume and number of shares traded.
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