Reliance Industries to turn ex-bonus on Thursday; stock extends gains
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Reliance Industries (RIL) was up 1% at Rs 1,650, extending its 6.6% surge in past five trading sessions on BSE, after the company fixed September 9 as the record date for 1:1 bonus issue. The stock will turn ex-bonus tomorrow on September 7.
The stock outperformed the market by gaining 7.7% from Rs 1,532 on August 28, as compared to 1% rise in the S&P BSE Sensex.
“The Company has fixed Saturday, September 9, 2017 as the 'Record Date' for the purpose of determining members eligible for bonus equity shares of the Company,” RIL said in a regulatory filing on August 30, 2017.
On July 21, 2017, the board of directors of RIL had recommended issue of bonus shares to the by capitalisation of its reserves in the ratio of 1:1, i.e. 1 (one) bonus equity share of Rs 10 each fully paid-up for every 1 (one) existing equity share held by the members as on a record date.
The stock hit an intra-day high of Rs 1,652, close to its record high of Rs 1,665 touched on August 3, 2017 in intra-day trade. The counter has seen huge trading activity with a combined 6.91 million shares changed hands till 01:28 pm. On an average nearly 3.9 million shares were traded in past two weeks on BSE and NSE.
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