Mumbai, May 27 (SocialNews.XYZ) With just two more trading sessions to go, the share price of Reliance Industries-Rights Entitlement (RIL-RE) closed at Rs 201.5 with a gain of 11 per cent on Wednesday.
It touched an intra-day high of Rs 209.90 per share.
RIL's RE continued to command a healthy premium over its intrinsic value in its fifth trading session with healthy volumes.
On Wednesday, the RIL share price closed at Rs 1,445.55 on the National Stock Exchange. At this price, the intrinsic value of RIL-RE works out to Rs 188.5, which is the difference between the closing level and over rights issue price of Rs 1,257.
Thus, at the closing price, the RIL-RE commanded a premium of Rs 12.95, a 6.9 per cent premium over the intrinsic value at market closing prices.
A total of 93 lakh RIL-REs changed hands on NSE and BSE on Wednesday, with a total traded value of Rs 167.3 crore.
As five trading sessions are over for RIL-REs, more than Rs 1,450 crore of trade has taken place on stock exchanges, all at a premium to the intrinsic value. This is a clear indicator of strong demand for RIL-REs.
Over 7.6 crore RIL-RE shares have traded on stock exchanges in the four trading sessions of listing. This is more than 18 per cent of the total 42.26 crore REs issued.
RIL-REs, the first rights entitlement ever traded on stock exchanges, have created immense wealth for RIL shareholders on debut, analysts said.
The volume-weighted average price (VWAP) of RIL-REs stood at Rs 179.8 on Wednesday on the NSE. The RIL's VWAP for the day was Rs 1,430.20.m
Trading of Reliance Industries' Rights Entitlement began on May 20, simultaneously with opening of the rights issue.
Friday (May 29) will be the last day for buying or selling rights entitlements on the NSE and BSE.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
