Reliance Bonus Issue: Today's The Last Chance To Double Your Share Count
Retail investors have until the end of the trading day on Friday, October 25, 2024, to purchase shares of Reliance Industries Ltd. to be eligible for the company's 1:1 bonus shares. The conglomerate's share price has fallen 11% in the past month.
This bonus issue's record date is Monday, October 28, 2024. The Mukesh Ambani-owned company has approximately 3.5 million shareholders. After the 1:1 bonus share is issued, these shareholders will double their shareholding without any additional investment.
To qualify for the bonus shares, investors must acquire RIL shares at least one day before the record date. Given India's T+1 settlement cycle, shares purchased on the record date itself will not be eligible for the bonus allocation. Therefore, investors should act quickly to secure their shares by the October 25 deadline.
For example, an investor currently holding 100 RIL shares will receive an additional 100 shares, resulting in a total of 200 shares post-bonus issue. However, it is essential to note that while the quantity of shares will increase, the total value of the investment will remain unchanged, as the share price will adjust to reflect the increased number of outstanding shares.
The scrip fell as much as 1.33% to 2,644 apiece. It pared losses to trade 1.30% lower at Rs 2,644.65 apiece, as of 10:43 a.m. This compares to a 0.86% decline in the NSE Nifty 50 Index.
It has risen 17.13% in the last 12 months. Total traded volume so far in the day stood at 0.35 times its 30-day average. The relative strength index was at 29.
RIL had issued a newspaper advertisement dated September 23, reminding holders of partly paid-up equity shares about the necessity of settling due payments to avoid forfeiture. The deadline for these payments has been extended to October 7, 2024. Shareholders who fulfill their payment obligations will not only be eligible for the bonus shares but will also gain equity shares of Jio Financial Services Ltd., which are currently held with the JFSL Trust-PPS.
Out of 38 analysts tracking the company, 30 maintain a 'buy' rating, five recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 21%.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
