India's Largest Bonus Alert: Energy Company To Issue 1 Free Share For Every 1 Share Held By Shareholders After Seven Years
The stock gave multibagger returns of 115 per cent in 5 years and over 540 per cent in 1 decade.
The Board of Directors of this energy company approved the issue of bonus shares in the ratio of 1:1 i.e. every shareholder holding 1 (one) fully paid-up equity share of Rs 10 each on the record date will receive 1 (one) fully paid-up equity share of Rs 10 each. The Board fixed the record date for bonus shares as Monday, October 28, 2024.
The stock name is Reliance Industries Limited (RIL).
This will be the largest-ever issuance of bonus equity shares in the Indian equity market. The issuance and listing of bonus shares will coincide with the upcoming festive season in India and will be an early Diwali Gift to all our esteemed shareholders.
This is the sixth bonus issue from RIL since its IPO and the second in this Golden Decade. The bonus issue is a testimony to Reliance’s continued commitment towards rewarding shareholders during the Golden Decade from 2017 to 2027. In 2017, Reliance issued bonus shares in the ratio of 1:1. In July 2023, Jio Financial Services Limited was demerged, which is valued 35 per cent higher today from its listing.
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Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50 per cent shareholding in the conglomerate. The company is a constituent of the BSE Sensex Index, which is a stock market index that tracks the performance of 30 of the largest and most liquid stocks listed on BSE with a market capitalization of over Rs 20 lakh crore. The stock’s 52-week high is Rs 3,217.90 and its 52-week low of Rs 2,221.05.
The company reported positive numbers in its Quarterly Results (Q2FY25) and annual results (FY24) and has consistently shown impressive figures, demonstrating its profitable performance for over a decade. The stock gave multibagger returns of 115 per cent in 5 years and over 540 per cent in 1 decade. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.