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- Mukesh Ambani; Reliance Industries Bonus Share Meeting Update | RIL Share Price
Mumbai21 hours ago
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Reliance Chairman Mukesh Ambani. The company had announced a board meeting before its AGM on August 29.
The board of Reliance Industries has today, on September 5, approved the issuance of bonus shares to shareholders in the ratio of 1:1. 1:1 ratio means that eligible shareholders will get one share of Reliance Industries in exchange for one. The company will soon announce the record date to identify eligible shareholders.
This will be the sixth time after 1980, 1983, 1997, 2009 and 2017 that the company will issue bonus shares to its shareholders. The record date for the bonus issue has not been decided yet. Reliance had announced its pre-AGM meeting on August 29.
Bonus is given for reducing the share price Companies issue bonus shares mainly to make their stock more accessible to retail investors, especially when the share price rises significantly. Reliance shares have risen 17% so far in 2024 and are trading above the ₹ 3,000 mark.
Reliance stock increased by 24% in one year The company’s stock fell by 1.26% today. It fell by Rs 38 and closed at Rs 2991. Reliance’s stock has risen by 23.41% in one year. In the last 6 months, the stock has remained almost flat. The stock has risen by about 4% in one month.
Reliance AGM- Announcement of giving 100GB free storage to Jio users Reliance Industries Limited (RIL) announced the Jio AI Cloud Welcome Offer at its 47th Annual General Meeting on August 29. The company’s chairman Mukesh Ambani had said that Jio users will get up to 100 GB of free cloud storage under this offer.
Important points related to Annual General Meeting:
- Incentive Based Employment System:Reliance has adopted a new incentive based employment system. The company provided 17 lakh jobs last year. At the same time, the company has spent more than ₹ 3,643 crore on research and development in the financial year ending March 2024.
- Revenue crosses Rs 1 lakh crore: Jio remains the fastest growing digital company. Its revenue has crossed Rs 1 lakh crore. It has transformed the country from 5G dark to 5G bright. Last year, the rollout of Jio 2 5G was completed across the country.
- Jio Phonecall AI Launch: Reliance Jio launched a new AI-powered service, JioPhonecall AI. This new AI feature integrates AI features into the everyday phone calls of Jio users. Users will be able to record, transcribe and translate phone conversations.
Reliance Industries Chairman Mukesh Ambani speaking at the 47th Annual General Meeting.
Profit of Rs 15,138 crore in the first quarter of the financial year 2024-25 A month ago, Reliance Industries released the results for the April-June quarter. The company has made a profit of Rs 15,138 crore in this quarter. The profit has decreased by 5.45% on an annual basis. The profit in the same quarter a year ago was Rs 16,011 crore.
At the same time, the company’s income (revenue) in the April-June quarter was Rs 2,36,217 crore. In the same quarter a year ago, the company had generated a revenue of Rs 2,10,831 crore. That is, an increase of 12.04% has been registered on an annual basis.