Rights issue helps RIL reclaim Rs 10 lakh crore m-cap – Times of India: MUMBAI: Reliance Industries on Thursday reclaimed Rs 10 lakh crore market-capitalisation mark after its shares surged over 2.four per cent on the again of the success of the rights challenge.
Rights challenge helps RIL reclaim Rs 10 lakh crore m-cap – Instances of India
RIL closed at Rs 1,579.95 on the BSE, a acquire of Rs 37.50 or 2.43 per cent over the day before today shut.
This took the m-cap previous Rs 10 lakh crore – Rs 10.01 lakh crore to be exact, in accordance with inventory alternate knowledge.
The inventory traded at this degree final on Might 11, 2020.
The oil-to-telecom conglomerate on Wednesday closed a Rs 53,124 crore rights challenge, India’s largest ever, with an oversubscription.
Since lockdown was introduced on March 24, RIL has generated 67.5 per cent returns for its shareholders, greater than double the 28.6 per cent returns generated by the benchmark Nifty-50.
The agency on April 22 introduced Fb shopping for a 9.99 per cent stake in Jio Platforms for Rs 43,574 crore. The share has since risen by 15.9 per cent.
The rights challenge, which closed in 34 days with investor commitments exceeding Rs 84,000 crore, was the biggest challenge globally amongst non-financial corporations within the final 10 years.
RIL share gained 7.eight per cent in these 34 days, as towards 1.7 per cent rise in Nifty-50, in accordance with inventory alternate knowledge.