Skip to main content

RIL Shares Jump Near 4 Per Cent Market Valuation Climbs Rs 67326 Crore

Shares of Reliance Industries Limited on Monday jumped nearly 4 per cent, with its market valuation rallying by Rs 67,326 crore.

The stock rallied 3.78 per cent to settle at Rs 2,735.15 on the BSE. During the day, the index heavyweight stock jumped 4.53 per cent to hit its 52-week high of Rs 2,755.

At the NSE, it climbed 3.85 per cent to end at Rs 2,735.25.

Rally in the stock added Rs 67,326.07 crore to the company's market valuation, which stood at Rs 18,50,496.31 crore.

It was the biggest gainer on both the Sensex and Nifty.

In traded volume terms, 11.11 lakh shares of the company were traded at the BSE and over 1.53 crore shares on the NSE during the day.

Billionaire Mukesh Ambani's daughter Isha and former Comptroller and Auditor General of India (CAG) Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Limited, the company said on Saturday.

RIL had announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL).

It will lend to consumers and merchants based on proprietary data analytics and will eventually branch out to insurance, payments, digital broking and asset management.

The spinoff, which will create the fifth-largest financier in terms of capital and compete directly with the likes of Paytm and Bajaj Finance, will complement Reliance's consumer businesses, which include India's largest wireless operator with about 428 million users, and top retail chain with over 17,000 stores.

"In accordance with provisions of the (demerger) Scheme, RSIL shall issue and allot one fully paid-up equity share of RSIL having a face value of Rs 10 each for every fully paid-up equity share of Rs 10 each of the company to the shareholders whose names are recorded in the register of members and/or records of the depository as on the record date," the firm said in a stock exchange filing.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



from NDTV Profit-Latest https://ift.tt/Dd4AgX3
via
Labels:

Comments

Post a Comment

Popular posts from this blog

Beyond The Bronze Age: Exploring The Dawn Of The Crypto Era

Humanity has witnessed enormous technical advancements throughout history that have moved society ahead in remarkable ways. Each epoch, from the invention of agriculture through the Industrial Revolution, has offered new advances that have shaped the history of civilization. You are now standing at the dawn of the Crypto Era, on the verge of yet another transformational era. The bull run then and now But now, the term bull run or bull market is used to describe a situation in which the price of assets or securities, such as cryptocurrency or stocks, rapidly rises. A crypto bull run is similar to what happens in traditional markets. It often denotes the optimistic hopes of investors seeking to profit from the asset's price appreciation, with the goal of generating big returns on their initial investment. During a bull run, there is a general sense of optimism in the market and an expectation of big gains. In the context of the financial markets, the term bull run is metaphorical
Post a Comment
Read more

Beyond The Bronze Age: Exploring The Dawn Of The Crypto Era

Humanity has witnessed enormous technical advancements throughout history that have moved society ahead in remarkable ways. Each epoch, from the invention of agriculture through the Industrial Revolution, has offered new advances that have shaped the history of civilization. You are now standing at the dawn of the Crypto Era, on the verge of yet another transformational era. The bull run then and now But now, the term bull run or bull market is used to describe a situation in which the price of assets or securities, such as cryptocurrency or stocks, rapidly rises. A crypto bull run is similar to what happens in traditional markets. It often denotes the optimistic hopes of investors seeking to profit from the asset's price appreciation, with the goal of generating big returns on their initial investment. During a bull run, there is a general sense of optimism in the market and an expectation of big gains. In the context of the financial markets, the term bull run is metaphorical
Post a Comment
Read more