Reliance Industries' Stock Soars After Bonus Share Announcement

Shares of Reliance Industries Ltd rose by nearly 3% following the company's announcement that its board will consider issuing 1:1 bonus shares on September 5. The stock climbed on both the BSE and NSE, with the company's market valuation surging by Rs 42,399.24 crore.

Shares of Reliance Industries Ltd surged nearly 3% during late afternoon trade on Thursday after the company announced that its board will consider issuing 1:1 bonus shares on September 5.

The firm's stock gained 2.63% to reach Rs 3,074.80 on the BSE, while at the NSE, it rose by 2.58% to Rs 3,074.

This announcement also boosted the company's market valuation by Rs 42,399.24 crore to a total of Rs 20,60,461.42 crore. Reliance, the nation's largest company by market value, last issued bonus shares in September 2017.

(With inputs from agencies.)