Fri Nov 01 13:19:32 UTC 2024: ## Reliance Industries Shares Double as Bonus Issue Takes Effect

**MUMBAI, INDIA -** Reliance Industries, India’s most valuable company, saw its share price remain in focus on Monday, October 28th, as the record date for its 1:1 bonus share issue took effect.

Shareholders who held Reliance Industries stock before the end of market trading on Friday, October 25th, are eligible to receive one bonus share for every share they own. This means their holdings effectively double without any additional investment.

The company announced the bonus issue in September and October, with the aim of rewarding shareholders and increasing liquidity in the market.

While the bonus issue is a positive development, Reliance Industries’ share price has seen a decline of nearly 10% in the past month. This drop is attributed to broader market pressures stemming from geopolitical concerns and selling by foreign portfolio investors (FPIs).

The company also reported a subdued growth in its second quarter earnings, with a weaker oil-to-chemicals segment contributing to the decline. Reliance Industries reported a combined profit of ₹16,563 crore, a 4.7% decrease year-on-year.

Despite the recent challenges, Reliance Industries remains a major player in the Indian market and is expected to benefit from the continued growth of the Indian economy. The bonus issue is seen as a further step in strengthening its position.

**Disclaimer:** The views expressed in this article are those of the author and do not constitute investment advice.

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