
Reliance Industries shares fall 3%; here’s why
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.
Post RIL’s 46th AGM, several analysts have maintained their rating and target price on RIL shares, expecting an upside potential of up to 23%.
RIL's market cap has eroded by ₹2.27 lakh crore in the last three trading days after hitting all-time high of ₹19.21 lakh crore in intraday trade on July 19.
Billionaire Mukesh Ambani-led conglomerate is expected to report muted earnings in the first quarter of FY24 due to decline in its oil-to-chemical (O2C) business.
The share price for Jio Financial Services was discovered at ₹261.85, which was much higher than analysts’ estimate of ₹160-190 per share
The new share price of RIL ex-JFSL was discovered at ₹2,580 per share and that of Jio Financial Services at ₹261.85 after the special pre-opening session on the NSE.
Investors rushed to buy RIL shares amid hope that it would unlock value for shareholders post demerger of Jio Financial Services.
Today is the last day for investors to buy Reliance Industries shares to be eligible for Jio Financial Services on a 1:1 basis
Investors rushed to buy RIL shares after the company received approval for the demerger of its financial services arm, which would unlock value for its 36 lakh shareholders.
RIL will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments on stock exchanges.