Mukesh Ambani’s Diwali gift, 37 lakh shareholders will get extra shares on that day
Mukesh Ambani, a prominent Asian businessman and chairman of Reliance Industries, will give a grand gift to 37 shareholders before Diwali. In fact, Mukesh Ambani has announced the record date for extra shares. The record date for the company’s bonus shares has been set at October 28. That means investors will get a treat before Diwali. In information provided in the regulatory filing, the company said it obtained shareholder approval to grant extra shares.
The company gave information on the stock exchange.
In a regulatory filing with the stock exchange, Reliance Industries said it has received shareholder approval to issue extra shares in the ratio of 1:1. The company said the record date has been set for Monday, October 28, 2024 to determine shareholders entitled to receive bonus shares. At the Annual General Meeting of Reliance Industries on August 29, 2024, company Chairman Mukesh Ambani announced the award of extra shares. While on September 5, 2025, the company’s board of directors had approved the granting of bonus shares.
What is the status of the shares?
Talking about Reliance’s recent stock, HDFC Securities has set a target price of Rs 3,350 on RIL with its ‘ADD’ rating. At the same time, Nomura has set a target of Rs 3,450 for RIL and has also given it a buy rating. CLSA has maintained its ‘outperform’ rating on the stock with a target of Rs 3,300. UBS has maintained a ‘buy’ rating on RIL with a target of Rs 3,250.
How were the results?
The company recently announced its quarterly results. In the results, the company’s consolidated net profit recorded a decrease of around 5 percent year-on-year. The company’s profit has decreased mainly due to the weak performance of the oil refining and petrochemical business.
