Reliance

RELIANCE INDUSTRIES LIMITED (RIL) Reliance Industries announces 1:1 bounty part The RIL board on Wednesday, sanction the Diwali Bonus proposal announcing 1:1 incentive share issue. All shareholders will train wholeness share free for every share which is be held by them, frankincense benefiting 35 lakh shareholders. RELIANCE INDUSTRIES Ltd (RIL) came up with a plesant surprise, in 12 yrs, announcing 1:1 bonus share issue. All shareholders will get one share free for every share which is being held by them, thus benefiting 35 lakh shareholders.The so termed Diwali Bonus proposal was approved by the RIL board on Wednesday (October 7). The last bonus issue, which was as well as 1:1 was announced by RIL in the year 1997. The RIL board besides proposed an interim dividend of Rs 13 per share for 2008-09. A senior company official said that the dividend will think of an outgo of Rs 2,219 crore, which will include Rs 322 crore in taxes. The audited results of RIL for the year stop March 31, 2009, was also approved by the board. RIL in a notice to the stocktaking exchange said that in its confluence on October 7, the board of directors have recommended, subject to the approval of the shareholders, bonus shares in the ratio of one equity share of Rs 10 each fully paid up for every one equity share of Rs 10 each of the company.

Alok Agarwal, RILs Chief monetary Offifer (CFO) said that the Reliance Petroleum share holders will also get the same bonus and interim dividend. RIL had created value of Rs 2,47,000 crore in market capitalisation since its demerget with the group and thus the shareholders have realize a 40 per cent compounded return. He move on added that RIL was now ready to invest for the future as it has a strong balance sheet, large cash reserves and a great deal of financial flexibility because of its Treasury stock holdings, which are currently valued at nearly Rs 40,000 crore. He said that the company recently sold 1.5 crore treasury shares value Rs.3,188 crore. DLF DLF... If you want to get a full essay, order it on our website: Ordercustompaper.com

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