In a much-awaited announcement, Reliance Industries may declare the record date for their bonus share issuance, doubling the shares of every shareholder. This would mark the largest bonus issue in the stock market and is being considered a Diwali gift for investors. The decision may be taken on October 14, along with the company's quarterly and half-yearly results. This is the sixth bonus issue for Reliance since their IPO, reflecting their commitment to providing continuous benefits to their shareholders.
Reliance Industries Limited (RIL) made a blockbuster announcement on Thursday, stating that its board will review a proposal for issuing 1:1 bonus shares on September 5. Following the news, RIL's stock witnessed an immediate surge of 2.63 percent on the BSE and reached an all-time high of Rs 3,074. Similarly, it climbed 2.58 percent on the NSE. This positive development also skyrocketed the company's market capitalisation by a massive Rs 42,399.24 crore. Mukesh Ambani, during his speech at RIL's annual shareholder meeting, emphasized the company's focus on generating long-term wealth for the nation and leveraging technology to solve complex human challenges.