Table of Contents
Reliance Board Meeting: The board of Reliance Industries is set to meet today, September 5, to discuss and approve the issuance of bonus shares to its shareholders. The proposed bonus will be in the ratio of 1:1, meaning shareholders will receive one additional share for each share they currently hold.
This news follows Reliance Industries' earlier announcement made just before its Annual General Meeting (AGM) on August 29.
The record date, which determines shareholder eligibility for the bonus, is yet to be announced.
If approved, this will mark the sixth time Reliance Industries has issued bonus shares, with previous instances in 1980, 1983, 1997, 2009, and 2017. Companies typically issue bonus shares to make their stock more affordable to retail investors, especially when the share price has risen significantly.
Related News |
NBCC Board Approves 1:2 Bonus Share Issue, Sets Record Date For October…
Reliance Industries’ stock has climbed 17 per cent so far in 2024, currently trading above Rs 3,000 and nearing its all-time high of Rs 3,217, achieved in July this year.
In addition to the bonus share news, Reliance will also be in the spotlight on Thursday as it recently secured a 10 GWh (gigawatt hour) manufacturing capacity for Advanced Chemistry Cells under the Production Linked Incentive (PLI) Scheme from the Ministry of Heavy Industries.
Related News |
Mukesh Ambani's Reliance Industries To Consider Bonus Issue On Sept 5: What If A RIL shareholder Has 100 Shares?