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RIL-Rights Entitlement surges 15% on day 2 to close at Rs 232
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SME Times News Bureau | 21 May, 2020
The share price for Reliance Industries-Rights Entitlement (RIL-RE) on
the National Stock Exchange rose nearly 15 per cent on Thursday to close
at Rs 232.
On Thursday, the RIL-RE opened trading at Rs 212 and
closed at Rs 232, a gain of 14.8 per cent, supported by strong
underlying volume of Rs 283 crore. RIL-RE touched an intra-day high of
Rs 258.30 per share.
The RIL-RE volume-weighted average price
(VWAP) for the day stood at Rs 215.1 implying a 16.9 per cent gain over
Wednesday's VWAP of Rs 184. The VWAP for RIL shares on Thursday was Rs
1,444, higher by of Rs 187 over the rights issue price of Rs 1,257.
Right Entitlements trading at a premium to the intrinsic value reflects continued strong interest, analysts said.
The total market value of all the Reliance Right Entitlements stood at Rs 9,805 crore.
RIL-Rights Entitlement (RE) trading began on Wednesday, May 20 simultaneously with the open of the rights issue.
RIL
Rights Issue is the first issue to use the online platform for trading
rights entitlement (RE) as introduced by the Securities and Exchange
Board of India (SEBI) earlier this year
Every eligible
shareholder holding shares on May 14, 2020 (Record Date) in demat mode,
got Rights Entitlement (REs) credited in their Demat Account. The
investors can sell the Rights Entitlements on the secondary market
platform of the stock exchanges in the same manner as any listed equity
shares.
On April 30, the RIL Board approved the rights issue of
up to Rs 53,125 crore at Rs 1,257 per share, with the share ratio of
1:15. The closing date of the issue is June 3.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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