Infosys, Route Mobile, Quasar India Ex-Dividend Today; RIL Ex-Bonus (3 Stocks Ex-Dividend, 1 Ex-Bonus Today)

RIL bonus issue impacts share price

Reliance Industries Ltd (RIL) shares became ex-date for a 1:1 bonus issue on Monday, leading to a price adjustment as they opened at Rs 1,338—around 49.61% lower than Friday’s closing price of Rs 2,655.45. However, on an adjusted basis, this represents a 0.77% gain. Investors might see a sharp drop in share price on trading platforms, but this is due to the unadjusted value.

A bonus issue increases the total outstanding shares, lowering the share price proportionally but enhancing liquidity. However, it reduces the company’s reserves. This 1:1 bonus issue is RIL’s sixth, the largest in Indian history, with the last occurring in 2017. Since then, RIL’s shares have delivered a 266% return, rising from Rs 725.65 to Rs 2,655.45.

Analysts have mixed-to-positive views on RIL’s stock. While its core businesses, including refining and petrochemicals, may face short-term challenges, gas production is expected to remain stable at 28-30 mmscmd with a realization of $10/MMBtu. Jio’s average revenue per user (ARPU) increased by 7% quarter-on-quarter to Rs 195, with further improvement anticipated due to recent tariff hikes. RIL’s retail sector is projected to maintain steady growth, and its substantial investment in green energy (Rs 75,000 crore) is seen as a positive future outlook.

 On Monday, October 28, Reliance Industries’ share price is under scrutiny as it marks the record date for its 1:1 bonus share issue. The shares went ex-date today, meaning that investors needed to purchase them before the market closed on Friday, October 25, to qualify for the bonus shares. This 1:1 bonus issue allows shareholders to receive one additional equity share of ₹10 for each share they hold, effectively doubling their shareholding without requiring any extra investment.

The company had previously announced the bonus issue on September 5 and October 16, confirming October 28 as the record date for determining eligibility. Over the past month, Reliance Industries’ share price has dropped nearly 10%, influenced by geopolitical tensions and selling activity from foreign portfolio investors (FPIs).

On October 14, the company released its financial results for the quarter ending September 2024, reporting subdued growth due to a weaker performance in its oil-to-chemicals (O2C) segment. Reliance Industries recorded a combined profit of ₹16,563 crore, down 4.7% from the same quarter last year, with total operating revenue remaining flat at ₹2,35,481 crore.

Shares of IT giant Infosys and cloud communications platform provider Route Mobile are expected to attract attention during today’s trading session as they turn ex-date tomorrow, following their recent dividend announcements. Additionally, Quasar India will also trade ex-date tomorrow as part of its stock split, according to BSE data.

Infosys announced an interim dividend of ₹21 per equity share for eligible shareholders, with a record date set for October 29, 2024. The payout is scheduled for November 8, 2024.

Route Mobile declared a first interim dividend of ₹6 per equity share of ₹10 for FY 2024-25. Shareholders holding equity shares in either electronic or physical form will receive this interim dividend if their names appear in the register of members by the record date of Tuesday, October 29, 2024. Payments will be made by November 19, 2024.

Quasar India Ltd has also announced a stock split in a 10:1 ratio, where each equity share with a face value of ₹10 will be subdivided into ten equity shares of ₹1 each, fully paid up.

Reliance Industries, India’s largest company by market capitalization, will also be in focus today as it trades ex-date following its announcement of a 1:1 bonus share issue. This marks the conglomerate’s first bonus issue since 2017, when its stock was valued at around ₹700.

The ex-date is the day a stock starts trading without the entitlement to dividends, bonus shares, rights issues, or buybacks. Investors must hold the stock before the ex-date to qualify for these benefits, as companies finalize the list of beneficiaries based on shareholders recorded by the close of the record date.