New Delhi: Mukesh Ambani-owned Reliance Industries Limited (RIL) shares are expected to be in the spotlight tomorrow, as the company has set the record date for its bonus share issue. In a stock exchange filing on Wednesday, the Mukesh Ambani-led conglomerate announced that Monday, October 28, 2024, will be the record date to determine which shareholders are eligible to receive the bonus shares.
Reliance Industries Bonus Share IssueThe company had earlier approved a 1:1 bonus share issue in September, which means shareholders will get one additional share for every share they own. Describing the move as an “early Diwali gift” for investors, this marks the sixth time the oil-to-telecom giant is issuing bonus shares. Reliance Industries Share Price TargetHDFC Securities reaffirmed its "ADD" rating on RIL, with a price target of Rs 3,350 per share, indicating a 22 percent upside potential. The brokerage’s optimism is based on three main factors: a recovery in the O2C business, growth in the digital business driven by improved average revenue per user (ARPU) and subscriber additions, and potential value unlocking in the digital and retail segments. HDFC Securities also noted that RIL's Q2FY25 EBITDA of Rs 391 billion (-4.7 per cent YoY, +0.8 per cent QoQ) exceeded their estimates, largely due to the strong performance of the telecom segment. Reliance Industries Share Price PerformanceReliance Industries shares are showing some gains on Wednesday after 13 consecutive days of decline. As of 2 PM on Wednesday, Reliance Industries Ltd shares were trading 0.50 percent higher at Rs 2,700.55.( Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)You may also like
Husband says 'NHS failed us' after late-wife's cancer misdiagnosed over the phone
Ex-Man Utd star shock favourite for top Arsenal job after infamous 'Battle of Old Trafford' role
'Ultimate Golf Challenge': A tournament that ignites team spirit and elevates the 'magic' of golf in the UAE
Novichok victim Dawn Sturgess told boyfriend she felt 'very strange' before foaming at the mouth
MP BJP achives target of 1.5 cr members, CM Mohan Yadav congratulates workers
'No hard evidentiary proof ... ': Canada's Trudeau admits no evidence tied India to Nijjar's killing amid diplomatic fallout
Chelsea suffers yet another injury setback ahead of Liverpool fixture
Andhra CM Naidu approves six landmark policies in a bid to create job opportunities
Lone gunman loots bank in Manipur's Kakching district, flees with Rs 6 lakh
M&S' £75 scarf coat looks just like Toteme's £800 version – we can't believe it's still in stock
Adrian Larsson leads Tommy Fleetwood International Pathway Series despite admitting to subpar performance
Delhi's air quality stays 'poor' for third straight day, some areas hit 'severe' levels
'Nurse told my mum to suffocate me at birth - here's why I'm against assisted dying'
Darwin Nunez makes another U-turn amid Liverpool struggles
Big IPL Players Opt Against Retention To Enter Auction, Boosted By BCCI's RTM Rule Twist: Report
Fury as Spanish island will make hotels pay for increased tourism in 2025
Thomas Tuchel receives emphatic England verdict as Harry Redknapp rant misses the point
Aishwarya Rai-Abhishek Bachchan's Divorce Confirmed? Fans Shocked by the Video
LS Speaker Birla meets presiding officers of world parliaments in Geneva
Keir Starmer 'cracking under pressure' as mask slips in awkward PMQs blunder