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Ravi Ranjan Prasad

Mumbai, Oct. 8 A day after Reliance Industries announced 1:1 bonus and Rs 13 dividend a share for the shareholders, the shares of the company topped the turnover chart on BSE and NSE in the cash market. But that failed to create any wave of sorts among trading members.

Failing to capitalise on the firm opening, the Reliance stock ended at Rs 2,119.20, up 0.96 per cent over the previous days close on the BSE. On the NSE, however, it closed weak at Rs 2,101 against the previous day’s close of 2,101.3.

The combined turnover on BSE and NSE was at Rs 2,038 crore. During the day’s trading RIL shares touched a high of Rs 2,235 on NSE and a low of Rs 2,100.

Deliverable quantity to traded quantity was 49.65 per cent against Wednesday’s 52.31 per cent on the NSE.

Despite high turnover, it was not keenly traded at the brokerages. “Most of our clients preferred momentum counters. We didn’t get any increased orders on Reliance today,” Chennai-based sub-brokers of two brokerage firms said.

Life Insurance Corporation will gain dividend income of Rs 113.35 crore by virtue of its holding of 5.54 per cent or over 8.71 crore shares. Most of the other financial institutions will also make dividend gains.

According to shareholding pattern as on June 30, 2009, there were 1,169 foreign institutional investors, 530 mutual fund schemes, 379 other financial institutions and banks, 31 Indian insurance companies holding Reliance shares.

More than 10,000 high networth individuals (bodies corporate) hold Reliance shares.

Among the retail investors, only 324 investors held share capital in excess of Rs 1 lakh, while over 20.94 lakh shareholders had nominal share capital up to Rs 1 lakh.

There were in total 21.35 lakh shareholders in RIL as on June 30, 2009.

More Stories on : Bonus Announcements | Stocks | Petroleum | Reliance Industries Ltd

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