Bonus Share Soon: RIL Shares Rise 35.96% From Lows, Buy For TP Rs 3435: Motilal Oswal

Large cap company Reliance Industries Ltd will consider and recommend bonus share on September 5, 2024 in the proportion of 1:1 to the equity shareholders of the company. Current market price of Reliance Industries Ltd shares on BSE is Rs 3019.75 apiece. Brokerage firm Motilal Oswal recommended investors to buy RIL shares for target price of Rs 3435 apiece. Currently, Reliance Industries shares are trading 35.96% above from its 52-week low price of Rs 2221.05. Reliance Industries has a market capitalisation of Rs 20,43,107.10 crore. Life insurance corporation of india (LIC) has 6.27% stake in RIL with 413,771,142 shares of the company. Check details below:

RIL To Recommend Bonus Share On Sept 5: According to the BSE filing of RIL dated August 29, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, September 5, 2024 to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the Equity Shareholders of the Company by capitalization of reserves."

What Is Bonus Share? These are additional shares given to the existing shareholders without any extra cost, on the basis of the number of shares that a shareholder holds. Bonus shares are company's accumulated earnings which are not given out in the form of dividends, but are converted into bonus shares of free shares.

RIL Dividend: As per the BSE filing of RIL issued as on August 5, 2024, "Monday, August 19, 2024 as the "Record Date" for the purpose of determining the members eligible to receive dividend for the financial year 2023-24." Earlier, RIL had declared Rs 10 per share final dividend.

RIL Shares Performance & Return: The 52-week high price of Reliance Industries Ltd shares on BSE is Rs 3,217.90 per share (as on 08/07/2024) and 52-week low price is Rs 2221.05 per share (as on 26/10/2023), respectively. RIL shares surged more than 16% year-to-date (YTD), soared 25% in last 1-year, offered return of 24% in last 2-years, and rallied 164% in last 5-years.

Reliance Industries Shareholding: Promoters have increased holdings from 50.31% to 50.33% in June 2024 quarter. FII/FPI have decreased holdings from 22.06% to 21.75% in June 2024 quarter. Number of FII/FPI investors increased from 2373 to 2395 in June 2024 quarter. Mutual Funds have increased holdings from 7.50% to 7.84% in June 2024 quarter. Institutional Investors have increased holdings from 39.26% to 39.28% in June 2024 quarter, according to Trendlyne.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.