And this came as a big surprise. Well many investors who have invested in one of the country’s largest companies called RIL are set for a great Diwali this season. RIL board has approved the issue of Bonus shares in the ratio 1:1 for every equity share of Rs 10 each, which is subjected to shareholder’s approval. RIL has last issued bonus shares on Sept 13th 1997 which is more than 12 years from now.

RIL has also decided to reward an interim dividend of Rs 13 for every share in 2008-09 fiscal year.For the year ending Mar 31st 2009, the company has announced a ner consolidated profit of Rs 15,296 crores. The turnover of the company grew from Rs 1,37,147 crores an year ago to Rs 1,51,224 crores in this fiscal.

The 1:1 bonus share issue will certainly unlock value in the RIL stock which was down since a few days. It was trading at Rs 2,099 today with minor losses. Not surprisingly enough, RIL has a given a compounded return of 25% since its inception in late 1970′s. The move is seen as a measure to regain investor’s confidence in the stock. RIL is likely to move up in the coming trading sessions and will definitely help the markets in the Diwali season ahead.

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