• Explosive listing of rights issue shares
• Reliance shares touched life time highs
• Market cap reached 10 lakh 92 thousand crore
New Delhi. The shares of Reliance Industries, the country’s largest company, saw a sharp rise on Monday. Reliance shares touched a life time high of Rs.1626.95 on the National Stock Exchange. Reliance’s market cap is just a few steps away from 11 lakh crore. On Monday, the market cap of Reliance reached 10 lakh 92 thousand crore.
Till date, no company in the country has touched the market cap of 11 lakh crores. On Monday, the purchase of more than 2 crore 45 lakh shares of Reliance was sold on the National Stock Exchange. The stock closed at Rs.1612.30.
On Monday, the listing of Reliance’s partially paid shares of partial paid shares proved to be wrong, pre-listing the estimates. The stock opened at a price of Rs 690 and touched a high of Rs 710.65.
At the closing of the market, Reliance’s partial paid-up share price was Rs 698. Partial shares of Reliance saw delivery at 59.93 per cent. Excess delivery is seen as the confidence of investors in the market.
Experts were expecting a great listing of the Reliance Rights issue. Experts believed that it could be listed at a price of 600 to 650 rupees. But it defied all earlier estimates and entered the market vigorously.
RIL has allotted one share on 15 shares to shareholders under the Reliance Rights issue. For this the share price was kept at Rs 1257. The shareholders were required to pay 25 per cent i.e. Rs 314.25 along with the application. The remaining amount is to be paid in 2 installments.
Partial payout shares are listed on the stock exchanges under the name of RELIANCEPP separately from the shares of Reliance Industries. A separate ISIN number IN9002A01024 has also been issued for this.