Reliance board approves 1:1 bonus issue

On Thursday, RIL shares declined by 1.41 per cent to Rs 2987.15 on the BSE.

RIL shares have underperformed the market since January 2024. While the Sensex has gained over 15 per cent in the last eight months, RIL which closed at Rs 3,020.65 on January 3, 2024 has not made any gain.

RIL share prices, which remained flat since the beginning of this year, will decline after the allotment of the bonus shares as the number of shares also increases. If the bonus issue is in the ratio of one-for-one, the share price might come down by 50 per cent of the pre-bonus price.

The RIL board also approved a proposal to increase the authorized share capital of the company to Rs 50,000 crore from Rs 15,000 crore.