Article

Reliance share 52 week high

July 10, 2023 | by reshucompany.com

Reliance share climbs to 52-week high after announcement of Jio Financial Services demerger. Mcap hits ₹18 lac crore

Reliance Industries Ltd or RIL share price witnessed strong buying interest among Indian stock market bulls during Monday morning deals as company has announced value unlocking via demerger of Jio Financial Services. Reliance share price today opened upside and went on to hit intraday high of 2756 apiece on NSE, breaching previous 52-week high of 2755 per share. While ascending to its new 52-week peak, Reliance shares hit a new milestone by surpassing 18 lakh crore market cap. At 10:43 AM, Reliance Industries Ltd’s market cap was around 18.62 lakh crore.

Jio Financial Services demerger record date

On Saturday, Reliance declared Jio Financial Services demerger record date on 20th July 2023 citing, “This is in further to our letter dated July 6, 2023 intimating that the Hon’ble National Company Law Tribunal, Mumbai Bench has sanctioned the Scheme,” adding, “In accordance with the terms of the Scheme, Thursday, July 20, 2023 has been fixed as the Record Date for the purpose of determining the equity shareholders of the Company entitled to receive the Resulting Company New Equity Share

Special Offer! Mint + WSJ at ₹3499Claim Now!
Business NewsMarkets / Stock Markets/  Reliance share climbs to 52-week high after announcement of Jio Financial Services demerger. Mcap hits 18 lac crore
Back

Reliance share climbs to 52-week high after announcement of Jio Financial Services demerger. Mcap hits ₹18 lac crore

Jio Financial Services: Reliance share price surged as the company announced the demerger of Jio Financial Services, with a record date set for 20th July 2023

 Jio Financial Services listing date is expected to be by the end of August 2023.
Jio Financial Services listing date is expected to be by the end of August 2023.

Reliance Industries Ltd or RIL share price witnessed strong buying interest among Indian stock market bulls during Monday morning deals as company has announced value unlocking via demerger of Jio Financial Services. Reliance share price today opened upside and went on to hit intraday high of 2756 apiece on NSE, breaching previous 52-week high of 2755 per share. While ascending to its new 52-week peak, Reliance shares hit a new milestone by surpassing 18 lakh crore market cap. At 10:43 AM, Reliance Industries Ltd’s market cap was around 18.62 lakh crore.

 

Jio Financial Services demerger record date

On Saturday, Reliance declared Jio Financial Services demerger record date on 20th July 2023 citing, “This is in further to our letter dated July 6, 2023 intimating that the Hon’ble National Company Law Tribunal, Mumbai Bench has sanctioned the Scheme,” adding, “In accordance with the terms of the Scheme, Thursday, July 20, 2023 has been fixed as the Record Date for the purpose of determining the equity shareholders of the Company entitled to receive the Resulting Company New Equity Shares.”

Reliance Industries went on to inform:

1] The Effective Date of the Scheme is July 1, 2023;

2] In accordance with provisions of the Scheme, Reliance Strategic Investments Limited (“RSIL”) shall issue and allot 1 (One) fully paid-up equity share of RSIL having face value of 10 (Rupees Ten) each for every 1 (One) fully paid-up equity share of 10 (Rupees Ten) each of the Company (“Resulting Company New Equity Shares”) to the shareholders of the Company whose names are recorded in the register of members and / or records of the depository as on the Record Date.

 

Jio Financial Services share price

Though, an official announcement in regard to Jio Financial Services share price is yet to come but global brokerage Jefferies has estimated that Jio Financial Share price would be around 179 whereas JP Morgan has estimated Jio Financial Services share price to be around 189 apiece.

Jio Financial Services listing date

On expected Jio Financial Services listing date after the announcement of Jio Financial Services demerger record date, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “We can expect Jio Financial Services listing by end of August 2023 as it would take around one to one and half month after the demerger record date.”

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

 

 

RELATED POSTS

View all

view all