Reliance Industries Share Price: RIL is top Sensex loser; is this a BUY opportunity ahead of BONUS?

Reliance Industries Share Price, RIL Bonus Share 2024: Reliance Industries shares on Monday cracked more than 2 per cent to emerge as the top Sensex loser around 11 AM. RIL shares opened in the red at Rs 3,038.80 against the previous close of Rs 3,051.35.

A further selling was seen in the stock post weak start as it made a low of Rs 2,976.30, down 2.50 per cent. At 11 AM, the counter traded near day's low at Rs 2,980 with 44.87 lakh equities changing hands.

Reliance Industries shares today fell after 3 days of consecutive gains. The stock is trading higher than 5-day, 20-day, 50-day, 100-day and 20-day moving averages. A rise in investors participation was seen RIL stock as 5-day average delivery volume surged by 32 per cent against the previous session's volume of 74.14 lakh.

RIL Share Price Target 2024

Meanwhile, ET NOW panellist and maket expert Nooresh Merani has recommended buying Reliance Industries shares on dips. He said that RIL shares are in a positive trend and this will likely stay.

Nooresh has set a price target of Rs 3,200 for RIL shares.

RIL Bonus 2024 Announcement

Earlier this month, Reliance Industries announced to issue bonus shares in the ratio of 1:1, meaning one free share will be issued for every share held in the company. RIL bonus announcement is also the country's largest ever issuance of bonus equity shares.

RIL Bonus 2024 Record Date

Reliance Industries is yet to announce the record date for the bonus shares.

RIL Bonus History

This is the sixth bonus issue by the oil-to-telecom-and-retail conglomerate since its listing. Reliance Industries, led by Mukesh Ambani, had first issued bonus shares in the ratio of 3:5 in 1980-81, followed by another 6:10 issue in 1983-84 and 1:1 issues in 1997-98, 2009-10 and 2017-18.