Reliance Shares Appear to Drop 50% After 1:1 Bonus Issue, Analysts Cautiously Optimistic on Long-Term Growth
On October 28, 2024, Reliance Industries Ltd. (RIL) stock opened at ₹1,338 per share, which looked almost 50% lower than Friday’s closing price of ₹2,655.45. This sudden decline, however, is due to company’s recent 1:1 bonus share issuance, where every shareholder received one additional share for each share they already owned. In a 1:1 bonus…