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Reliance Industries Rights Entitlement jump 11% on second day –

Reliance Industries – Rights Entitlement shares gained 11 percent intraday on May 21, extending uptrend for second consecutive session.

RE opened at Rs 212 and faced volatility in morning to hit a day’s low of Rs 190.25, but gained momentum again and touched an intraday high of Rs 224.40 on the National Stock Exchange.

At 11:51 hours IST, it was trading at Rs 215.05, up Rs 12.90 or 6.38 percent over its previous close of Rs 202.15. In previous session, it had rallied 33 percent.

RE, so far, traded with volumes of 66,91,200 shares.

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The trading price band for the day has been fixed at Rs 121.30 on the lower end and Rs 283 on the upper end.

Reliance Industries stock also traded higher for second consecutive session, up 0.9 percent at Rs 1,446.20 with volumes of around 1 crore shares on NSE.

The trading in RIL Rights Entitlement started on May 20, and May 29 will be last day for trading, so that by June 2 the eligibility of partly paid up rights shares will be finalised with payment on June 3 when investor has to pay first installment of Rs 314.25 per share or 25 percent of total rights share price (Rs 1,257).

After allotment and credited shares by June 11, the partly paid up rights shares will start trading on exchanges with effect from June 12.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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