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.
Popular Posts
-
Godrej Consumer Products is developing into a good story in the FMCG space. Inorganic growth, like it's intended buy-out of Sara Lee’s... -
Sensex will hit 1 lakh mark in 5 years. Chris Wood of global brokerage firm Jefferies has said that it will only be a matter of time before... -
S tock markets worldwide have fared terribly during the year 2008. While the US declined 36%, Europe was also severely affected. While UK tu... -
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers.... -
Trading holidays for the calendar year 2023. The National Stock Exchange of India (NSE) has notified trading holidays for the calendar ye...
