Reliance Industries Stock Price: For the last two trading sessions in the stock market, investors are competing to buy shares of the country’s largest private company Reliance Industries. On Saturday, July 8, 2023, Reliance announced the record date for the demerger of Jio Financial Services. And this week investors broke down to buy Reliance shares in the market.
Reliance’s stock had closed at Rs 2633 on Friday, July 7, before the announcement of the record date of the demerger. But in the last two days, the stock has gained about Rs 132 or 5.01 per cent. And on Tuesday the stock has closed at Rs 2765. The volume of trading in Reliance’s stock has jumped more than 3 times.
According to the demerger scheme announced by Reliance Industries, the record date for the demerger has been fixed on July 20, 2023. Any investor who holds Reliance shares till July 19, 2023, will get one share of Jio Financial Services for every one share of Reliance Industries. Investors have time till July 19 to take advantage of this demerger. Investors can buy Reliance shares till July 19 to get Jio Financial shares.
The chairman of Reliance Industries can get the stock of Jio Financial listed in the stock market in the month of September before Diwali. Whose outline can be announced in the AGM of the company. Although the date of the AGM has not been announced yet.
Brokerage house Motilal Oswal said that Reliance shares account for 90 per cent of the net worth of Jio Financial Services, due to which the book value of Jio Financial Services is Rs 190 per share. Brokerage houses are hopeful that investors can get handsome listing gains. In such a situation, it is believed that the demand for the shares of Reliance Industries may continue to rise.
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