Reliance Industries Limited (RIL) to Consider 1:1 Bonus Shares, Stock Rises 2%

Reliance Industries Limited (RIL) is set to consider issuing bonus shares in a 1:1 ratio at its board meeting scheduled for September 5, 2024. This would be the company’s first bonus share issue since 2017, when it also issued shares in the same ratio. The announcement, made during RIL’s 47th annual general meeting, boosted investor sentiment, leading to a 2.6% rise in RIL’s stock price to ₹3,074.80 at its peak during intraday trading.

Reliance Industries Limited (RIL)

The potential bonus share issue is expected to improve the liquidity of RIL’s shares in the stock market, making them more accessible to a wider base of investors. Mukesh Ambani, Chairman of RIL, highlighted the company’s ongoing commitment to rewarding shareholders, stating, “When Reliance grows, we reward our shareholders handsomely. And when our shareholders are rewarded, Reliance grows faster and creates more value.”

RIL’s stock, which opened at ₹3,014.95 on the day of the announcement, has shown strong performance, delivering nearly 26% returns to its shareholders over the past year. The company has been actively working on consolidating its balance sheet and exploring new growth opportunities, positioning itself for the next phase of expansion.

As the market watches closely, the bonus share proposal is expected to further enhance RIL’s appeal among investors, aligning with the company’s strategy of creating long-term value for its shareholders