Reliance Industries hits new high as stock turns ex-bonus today
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Reliance Industries (RIL) hit a new high of Rs 832.70 on BSE in early morning trade, surpassing its previous high of Rs 832.50 (adjusted to bonus shares) touched on August 3, 2017 in intra-day trade. The stock is trading ex-bonus in the ratio of 1:1 with effect from today.
On July 21, 2017, the board of directors of RIL had recommended issue of bonus shares to shareholders of the company 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 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.
So far in 2017, the stock has outperformed the market by surging 54% from Rs 540 on December 30, 2016. On comparison, the S&P BSE Sensex was up 19% during the same period.
At 9:33 am, the stock was trading 0.20% higher at Rs 824, against 0.3% rise in the benchmark index. A combined 2.23 million shares changed hands on the counter on BSE and NSE so far.
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