Reliance Industries Ltd (RIL) shares opened at Rs 1,338 today, a drastic drop of 49.61% from Friday's closing price of Rs 2,655.45.
This fall is due to the company's bonus issue, where shareholders receive one bonus share for each share held, effectively increasing the number of shares and lowering the price. On an adjusted basis, the stock is up 0.77%. This marks RIL's sixth bonus issue and the largest in Indian history.