RIL shares up 3% on expectations of stock split
Speculation of a stock split, a bonus issue or the company announcing a gas find is expected from the AGM.
By INDIATIMES NEWS NETWORK |
MUMBAI: Reliance Industries shares rose over 3 per cent on Friday ahead of the company’s annual general meeting being held on Friday. Speculation of a stock split, a bonus issue or the company announcing a gas find is expected from the AGM.
"There is a possibility of a share split which is likely to happen. The market is expecting some positive news, which is why the stock has run up" said an analyst with Religare Securities.
At 11:20 am, the stock was up 3.13 per cent at Rs 2711.95.
Reliance Industries will declare its July-September earnings on Oct 18. “We expect a decline in revenue and net profit on account of lower gross refining margins,” he added.
The analyst also anticipates the company to begin operations of Reliance Petroleum much earlier than December 2008. “Production at the Krishna Godavari Basin is also slated in the next 3-4 months, which bodes well for the stock,” the analyst said.
So will it be a stock split or bonus or just another dose of oil and gas discovery? Going by the high stock price, a split makes sense as it makes the stock affordable to small investors.
"There is a possibility of a share split which is likely to happen. The market is expecting some positive news, which is why the stock has run up" said an analyst with Religare Securities.
At 11:20 am, the stock was up 3.13 per cent at Rs 2711.95.
Reliance Industries will declare its July-September earnings on Oct 18. “We expect a decline in revenue and net profit on account of lower gross refining margins,” he added.
The analyst also anticipates the company to begin operations of Reliance Petroleum much earlier than December 2008. “Production at the Krishna Godavari Basin is also slated in the next 3-4 months, which bodes well for the stock,” the analyst said.
So will it be a stock split or bonus or just another dose of oil and gas discovery? Going by the high stock price, a split makes sense as it makes the stock affordable to small investors.
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