Reliance Industries Completes 1:1 Bonus Issue Amid Q2 Challenges and Stock Dip

On October 29, 2024, Reliance Industries issued a total of 67,661,864,49 bonus equity shares, each valued at ₹10, to its eligible shareholders.

Details of the 1:1 Bonus Issue

This allotment follows a 1:1 bonus issue, where each shareholder received one new, fully paid-up share of ₹10 for every existing ₹10 share they held. The eligibility was determined based on shareholders listed in the Register of Members or the Register of Beneficial Owners as of October 28, 2024, which was set as the record date for this bonus distribution. This ex-date, coinciding with the record date, determines the shareholders eligible for the bonus shares. The company had previously announced this issue on September 5 and October 16, informing that shareholders’ eligibility would be finalised on October 28.

Recent Stock Performance and Market Trends

Reliance Industries, with the highest market capitalisation on Dalal Street, reflects a market cap of ₹18,03,391 crore. Over the last month, the stock has experienced a 9.78% decline as geopolitical tensions and foreign portfolio investor (FPI) sell-offs impacted Indian markets.

Q2 Financial Results and Ongoing Challenges

On October 14, Reliance announced its financial results for Q2 FY25, reporting a profit of ₹16,563 crore, marking a 4.7% decrease year-on-year. The oil-to-telecom giant faced subdued growth due to weakness in its oil-to-chemicals (O2C) segment, with total operating revenue for the quarter flat at ₹2,35,481 crore.

On October 29, 2024, Reliance Industries Ltd’s share price opened at ₹1,328.10, touching the low price of ₹1,320.30 as of 01:26 PM on NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.