New Delhi. Reliance Industries Limited Chairman and Managing Director Mukesh Ambani on Thursday termed the reports of job cuts in the company as misleading and said that the group has employed 1.7 lakh people in the last financial year. With this, the total number of employees of the company has increased to more than 6.5 lakh. It is noteworthy that in the company’s annual report for the last financial year 2023-24, it was said that there would be a significant reduction in the number of employees.
On this, Chairman Mukesh Ambani said that the reason for the decline in the number of employees was the choice of a different model of employment by the employees and not their layoff. He said, “The nature of employment generation is changing globally, mainly due to technological intervention and flexible business models. Therefore, Reliance is adopting a new incentive-based engagement model, instead of just the traditional direct employment model. This helps employees to earn better and creates a spirit of enterprise in them. This is the reason why there has been a slight decline in the annual figures of direct employment. However, the total employment generated by Reliance has increased.” Ambani ranked employment generation for the youth of India as the top national priority. He said that many agencies have ranked Reliance as India’s best employer. Reliance is one of the largest employers in India.
Reliance will give one bonus share for every share, decision will be taken on 5th September
The giant company Reliance Industries Limited has proposed to give one bonus share for every share to its shareholders. The final decision on this will be taken in the board of directors meeting on September 5. Reliance Industries informed the stock markets about the proposal regarding bonus shares on Thursday.
Reliance, the country’s most valuable company in terms of market capitalisation, had earlier issued ‘bonus shares’ in September 2017.
Reliance Industries said in a notice to the stock exchange, “The meeting of the Board of Directors of the company is scheduled to be held on Thursday, September 5. In this, the recommendation to issue bonus shares in the ratio of one to one to the shareholders of the company will be placed for the approval of the Board of Directors.” Reliance Industries Chairman and Managing Director Mukesh Ambani, while addressing the shareholders in the company’s annual general meeting, said that the issuance of one ‘bonus share’ per share will be considered in the meeting of the Board of Directors to be held on September 5.
He said, “When Reliance moves forward, we also pass on the benefits to our shareholders.” Reliance had earlier issued bonus shares to shareholders in the ratio of 1:1 in 2017 and 2009 as well. The impact of the bonus share announcement was seen in the bullish trend in Reliance shares. At the end of trading, Reliance shares rose by more than 1.50 percent. The company’s shares closed 1.51 percent higher at Rs 3,040.85 on the BSE. On the other hand, the stock rose 1.54 percent to Rs 3,042.90 on the NSE. With the rise in the share price, the company’s market valuation also rose by Rs 30,389.92 crore to Rs 20,57,382.97 crore.