URL copied to clipboard

Trending News

Mark Your Calendars: Reliance Confirms Oct 28 for 1:1 Bonus – Learn More!

Reliance Industries announced October 28 as the record date for its 1:1 bonus share issue, following shareholder approval at its August AGM and board approval on September 5, 2024.

Reliance Industries Sets Oct. 28 As Record Date for 1:1 Bonus Issue

On Wednesday, Reliance Industries Ltd. (RIL) announced October 28 as the official record date for the issuance of bonus shares in a 1:1 ratio. This announcement follows shareholder approval, with a significant majority voting in favour of the bonus issue, according to an exchange filing.

Alice Blue Image

Shareholders Approve 1:1 Bonus Issue

RIL had first revealed its plan for the bonus issue during its annual general meeting held on August 29, 2024. The board granted its approval for the issuance on September 5, 2024. Speculation about the announcement of the record date during the board meeting on October 14 had surfaced earlier, but no confirmation was made until this latest update.

Also read: Ambuja Cements Shares Drop 2% After ₹909 Crore Block Deal

History of Reliance’s Bonus Issues

This marks the sixth bonus issue for Reliance Industries since its listing and the second of this decade. The company last issued bonus shares on September 7, 2017, also at a 1:1 ratio. Reliance’s first-ever bonus issue occurred in 1981 at a 3:5 ratio, followed by a 6:10 ratio in 1984 and three subsequent 1:1 issues in 1998, 2010, and 2018.

RIL’s Second Quarter Performance

For the quarter ending September, Reliance Industries reported a minor sequential revenue decline of 0.3%, bringing total revenue to ₹2.31 lakh crore. However, net profit surged 11% quarter-on-quarter, totaling ₹19,323 crore, compared to ₹17,445 crore in the prior quarter.

Alice Blue Image

Improvement in Operating Income and Margins

Reliance’s operating income, represented by EBITDA, rose 0.8% year-on-year to ₹39,058 crore, slightly higher than ₹38,765 crore reported during the same period last year. The EBITDA margin improved to 16.9%, up from 16.7% in the corresponding quarter of the previous fiscal year.

Also read: Deepak Builders’ ₹260-Crore IPO Launch: Key Details Inside!

Stock Market Response to RIL’s Announcement

RIL shares gained as much as 1.49% on Wednesday, reaching ₹2,728 on the NSE, before closing 0.75% higher at ₹2,708.15. This contrasts with a 0.34% decline in the Nifty 50. Over the past 12 months, Reliance shares have risen by 15.53%, with a year-to-date increase of 4.55%.

Loading
Read More News