Reliance Industries Rights Entitlement shares jump 11% on Day 5 on high volumes
FirstpostWith just two more trading sessions to go, the de-materialised trading of Reliance Industries Ltd - Rights Entitlement on Wednesday closed with a 11 percent gain over the previous day Mumbai: With just two more trading sessions to go, the de-materialised trading of Reliance Industries Ltd - Rights Entitlement on Wednesday closed with a 11 percent gain over the previous day. RIL-RE closed at Rs 201.5, a gain of 11 percent over Tuesday’s close, after touching an intra-day high of Rs 209.90, according to stock exchange data. While oil-to-telecom behemoth RIL’s Rs 53,125 crore mega rights issue opened for subscription by shareholders last week, it has become the first issue where eligible shareholders got the rights entitlements in demat, which could be traded on stock exchanges. Thus, at the closing price, RIL-RE commanded a premium of Rs 12.95 – a 6.9-plus percent premium over the intrinsic value at market closing prices.