Mon Oct 28 07:59:36 UTC 2024: ## Reliance Industries to Trade Ex-Split on Monday, October 28th, Bonus Shares to be Credited Later

**Mumbai, India** – Shares of Reliance Industries Limited (RIL), India’s largest company, will trade ex-split on Monday, October 28th. This comes after the Mukesh Ambani-led conglomerate announced a 1:1 bonus share issue in August 2024, approved by the company’s board of directors.

Investors holding RIL shares in their demat accounts as of October 28th will be eligible for the bonus shares, which will be credited to their accounts at a later date. Investors who purchase RIL shares on or before Friday, October 25th will also receive bonus shares, while those who purchase on or after October 28th will not.

The bonus share issue is expected to attract increased investor interest, particularly as the company focuses on strengthening its retail operations. Analysts believe that this will enable RIL to quickly scale up its retail business and maintain its leading growth momentum.

Despite a recent dip in its stock price and a slight decline in Q2 profits, several analysts remain bullish on Reliance Industries. They cite the company’s proven track record of building strong businesses, potential value unlocking in its telecom and retail sectors, possible rebound in the oil business, and the benefits of ongoing capital expenditure as key drivers for future growth.

G Chokkalingam, Founder at Equinomics Research, highlights that the bonus and split create long-term wealth for growing companies, putting Reliance firmly in that category. He believes that the recent correction from its 52-week high presents an attractive opportunity for investors.

While Reliance’s Q2 profits fell 4.8% year-on-year to Rs 16,563 crore, revenue came in at Rs 2.32 lakh crore, driven by strong performance in the digital and retail segments. The company’s diversified portfolio has helped it navigate global uncertainties, positioning it well for future growth.

Several analysts recommend holding or buying Reliance Industries shares for the long term, citing its strong performance across various business segments and potential for future growth. With a target price of Rs 3,470, JM Financial believes that Reliance is well-positioned to deliver robust earnings growth in the next 3-5 years.

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