Anil Ambani will not be disappointed from markets’ immediate reaction to the announcement of the Reliance Powers bonus shares.
On opening, it zoomed to Rs 436 in the mornings trade and is now hovering around the Rs 420 mark compared to the Rs 384 mark at which it closed on Friday. Reliance Power announced its decision on Sunday to issue bonus shares to shareholders.For the first time in the history of global capital markets, a company issued free shares to retail and institutional shareholders. This comes after the February 11 listing of the company which saw a less than positive reaction.Reliance sources said that bonus is not a face saving exercise and it will also consider methods other than bonus to compensate investors.
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