Reliance Industries Stock Increases As The Company Considers A 1:1 Bonus Share At Its September 5 Board Meeting

Led by Mukesh Ambani, Reliance Industries Ltd. (RIL), an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, announced that its Board of Directors will be meeting on Thursday, September 5, 2024.

"At 1.45 pm today, Reliance Industries Limited sent a notice to the stock exchanges that the Board of Directors will meet on September 5 to consider issuing bonus shares in the ratio of 1:1. When Reliance grows, we reward our shareholders handsomely. And when our shareholders are rewarded handsomely, Reliance grows faster and creates more value. This virtuous cycle has been the guarantor of your company’s perpetual progress," Chairman Mukesh Ambani said while addressing the shareholders during Reliance Industries AGM (Annual General Meeting).

Reliance Industries to issue bonus shares of 1:1 means that for every share an investor holds, they may receive another share if the proposal is approved.

The announcement came ahead of the 47th Reliance Industries AGM (annual general meeting) on August 29. As soon as the company informed stock exchanges about its board meeting regarding the Reliance Industries bonus issue, RIL shares climbed over 3% on Thursday trade.