Reliance share price:The announcement that Reliance Industries’ board will review the 1:1 bonus issuance on September 5 caused the company’s stock to soar. Prior to the 47th annual general meeting on August 29, the news was made.
Reliance share price:The stock of Reliance Industries has increased by almost 18% so far this year, outpacing the returns of the Nifty, which have increased by 15%. The counter is up 26% during the last 12 months.
Reliance Industries’ stock increased by around 2.6 percent on August 29 following the announcement by the country’s most valuable company that its board will review a 1:1 bonus share issue on September 5. The statement was made just before the 47th annual general meeting of RIL got underway today.
This will be RIL’s first bonus issue in seven years if it is approved. The company run by Mukesh Ambani wants to thank shareholders for its impressive financial results and commercial growth with this bonus issuance. It is anticipated that this action will also increase RIL shares’ liquidity, opening them up to a wider spectrum of investors.
“As Reliance expands, we generously compensate our investors. And when our shareholders receive substantial rewards, Reliance expands more quickly and adds greater value. “Your company’s continuous progress has been ensured by this virtuous cycle,” Chairman Mukesh Ambani stated during the AGM.
RIL shares were up 2.3% at Rs 3,066.05 on the National Stock Exchange (NSE) at 2:02 PM. This year, the stock has returned over 18%, outpacing the Nifty’s 15% return during the same period. The counter is up 26% during the last 12 months.
Reliance share price:History of RIL bonus issues
Bonus issues have been a tradition of RIL’s way of rewarding its shareholders. On July 21, 2017, the latest bonus was revealed. It had a 1:1 bonus ratio, which meant that for every share held, shareholders would receive an extra share.
Reliance Industries had already promised another 1:1 bonus on October 7, 2009. This came after the business offered a 1:1 bonus in a comparable bonus issue on September 13, 1997.
Going even further back, on October 28, 1983, Reliance Industries offered a bonus to shareholders in the ratio of three to five, which amounted to three more shares for every five shares held.
