RIL Bonus Share: The way has been cleared to give bonus shares to the shareholders of Reliance Industries. October 28, 2024 has been fixed as the record date for determining the shareholders eligible to receive bonus shares of the company. Investors having Reliance shares in their demat account as on the above date will receive a bonus of one share in the ratio of one share.
Shares of Reliance Industries declined after slightly weak results of the second quarter of this financial year. However, on Wednesday, RIL closed 0.79% higher at Rs 2709.40. The stock has fallen by about one and a half percent in the last 5 days. On the other hand, if we talk about the performance of the shares of Mukesh Ambani’s company in the last one month, then they have fallen by 8 percent. Its 52 weeks high is Rs 3217.60 and low is Rs 2220.30.
Experts bullish on Reliance shares
HDFC Securities has kept a target price of Rs 3,350 on RIL with its ‘ADD’ rating. On the other hand, Nomura has given buy rating to RIL with a target price of Rs 3,450. At the same time, CLSA has maintained its ‘Outperform’ rating on the stock with a target of Rs 3,300. Another firm UBS has maintained ‘Buy’ recommendation on RIL with a target of Rs 3,250. At the same time, JP Morgan maintained its “overweight” rating with a target price of Rs 3,125.
how were the results
The company’s consolidated net profit recorded a nearly 5 percent year-on-year (YoY) decline. Despite a challenging quarter due to weakness in the oil-to-chemicals segment, the company’s overall performance was supported by its digital services and upstream businesses.
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own and not those of . Investing in the stock market is subject to risks and please consult your advisor before investing.)
