Reliance Industries has declared 1:1 bonus shares, which came as a surprise, since the audited results only were expected today. Reliance declared its audited FY09 results, including Reliance Petroleum's (RPL) numbers, which was merged recently.
The net sales were at Rs 1.51 lakh crore versus Rs 1.37 lakh crore, whereas the net profit was at Rs 15,296 crore versus Rs 19,523 crore, which is much below the previous year. Meanwhile, the last bonus was issued in 1997, in the ratio of 1:1.
This move by Reliance would prop up the market in short term, while the markets are seeing some volatile moves either way.
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That is good news for RIL share holders and the market a well.
Sale of treasury shares, bonus issue, merger of RPL, young brother coming forward for patchup. Good times surely short term for Reliance stakeholder and may be another refinery IPO can be expected in future? Big one getting bigger!!!
Yes Mr.VK, another RPL Ipo can be expected soon.
That is a good news. The stockholders of Reliance must be really pleased. Thanks for this info. :)