Reliance shares trade in green as conglomerate announces Oct 28 as record date for 1:1 bonus share

Shares of Mukesh Ambani-led Reliance Industries were trading in the green on Thursday after the company set Monday, October 28, 2024, as the record date for determining the equity shareholders eligible for 1:1 bonus shares of the company.

The stock opened 0.8% higher at ₹2,731.4 apiece on the National Stock Exchange (NSE). At 9:25 am, it was trading at ₹2,725.80, up 0.6%.

The company had announced the bonus issue of shares ahead of its 28th Annual General Meeting (AGM) on September 5, 2024.

The oil-to-retail conglomerate plans to issue bonus shares in a 1:1 ratio, giving one free equity share for every share held by shareholders as of the record date, October 28.

Notably, this is the sixth time the company has issued bonus shares after 2017, 2009, 1997, 1983, and 1980.

Reliance Q2 results

According to a company statement, its consolidated profit after tax (PAT) fell to ₹16,563 crore in Q2 FY25, compared to ₹17,394 crore in the year-ago period.

The firm's debt grew to ₹3.36 lakh crore for the latest July-September quarter compared to ₹3.04 lakh crore in Q1 FY25 and ₹2.95 crore in Q2 FY24. Following accounting for cash in hand, the net debt stood at ₹1.16 lakh crore, compared to ₹1.17 lakh crore in the same period last fiscal.

Jio Platforms Limited's EBITDA surged 17.8% year-on-year (YoY) due to a better subscriber mix and a revision in telecom tariffs. Reliance Retail Ventures Limited's EBITDA also improved by 30 basis points.

Commenting on the results, Mukesh Ambani, Chairman and Managing Director (CMD) of Reliance Industries, said that the firm once again showed resilience in its diversified business portfolio during the quarter.

"Our performance reflects robust growth in digital services and upstream business. This helped partially offset weak contribution from O2C business, which was impacted by unfavourable global demand-supply dynamics," he said.

"The focus on strengthening our retail operations will help us rapidly scale up this business in the coming quarters and years and sustain our industry-leading growth momentum," he added.