Mumbai, October 08: Reliance Industries today surged more than 6 per cent in morning trade as investors cheered the bonus issue of the company, which came after a 12-year hiatus.
Shares of RIL spurted after the country’s largest private sector firm, yesterday announced a bonus issue of one share for every share held and declared a dividend of 130 per cent.
On the National Stock Exchange the stock surged more than 6 per cent to Rs 2,135.50, and on the Bombay Stock Exchange, it surged 5.24 per cent and witnessed a high of Rs 2,209.
“Yesterday’s announcement came as a big trigger for the stock, which was behaving in a range-bound manner in the last few trading sessions and amid the ongoing tussle with a Anil Dhirubhai Ambani Group firm,” marketmen said.
–PTI