1:1 Bonus lifts the ‘Reliance Industries share by 3%

Reliance Industries chairman and Managing Director Mukesh Ambani on Friday announced one free bonus share for each share held by its holders in the company on its 40th Annual general meeting. Soon after the announcement, the shares rode up by 3% or Rs 51.60 on BSE making it touch Rs 1588.20 per share that the previous Rs 1580.30 per share. This is considered to be the highest per share value since the 2009.

Mukesh Ambani speaking to reliance family and mass of reporters present was quoted as “ Free share issue to be largest by any Indian company. It reflects my confidence in company. Reliance to share prosperity with all share holders.”

The other highlighting aspect of the meeting was the launch of JioPhone which costs Rs 0. While providing the phone, an amounts of Rs 1500 would be collected as security deposit which would be refunded after 3 years. He also mentioned that the Reliance Industries have invested more than Rs Trillion in digital services to transform India. While the most of the existing telecom giants took 24 years to change its base from 2G to 4G, Reliance did the transformation in just 3 years by also featuring a competing and more data base as compared to other competitors.

Azam Sait

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