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Reliance Industries share gains nearly 2% ahead of rights issue meet

Share price of Reliance Industries gained 1.67% to Rs 1,454 compared to the previous close of Rs 1,430 on BSE

twitter-logoBusinessToday.In | April 28, 2020 | Updated 16:32 IST
Reliance Industries share gains nearly 2% ahead of rights issue meet
Reliance industries stock has gained 19.25% in five sessions since the deal between Facebook and Reliance Jio was announced on April 21, 2020

Reliance Industries share price gained in afternoon trade today after the conglomerate said it would consider its first rights issue in almost 30 years in a board meeting on April 30 to pare debt. Share price of Reliance Industries gained 1.67% to Rs 1,454 compared to the previous close of Rs 1,430 on BSE. The stock closed 0.15% lower at Rs 1,428.

Reliance industries stock has gained 19.25% in five sessions since the deal between Facebook and Reliance Jio was announced on April 21, 2020.

On Nifty, the stock gained 1.81% to Rs 1,455 compared to the previous close of Rs 1,429.75.

RIL Q4 result: Mukesh Ambani's Reliance to consider rights issue after 3 decades

Total 13.02 lakh shares changed hands on BSE amounting to turnover of Rs 184.96 crore. Market cap of the firm stood at Rs 9.05 lakh crore on BSE.

RIL stock price has gained 15.53% in one week and 34% in one month. However, it is down 5.69% since the beginning of this year. On March 23 , the stock hit its 52-week low of Rs 875 . Since then, it has gained nearly Rs 600.

RIL stock trades higher than its 5, 20 and 50 day moving averages but lower than 100 and 200-day moving averages. RIL stock price has gained 16.43% in one week and 36.04 % in one month. However, it is down 4.27% since the beginning of this year.

The large cap stock has gained 19.25% in five sessions since the deal between Facebook and Reliance Jio was announced on Wednesday.

The stock closed at Rs 1,236 on Tuesday last week. Last week, the stock surged 14.64% rising up to Rs 1,417 on BSE.

On March 23, the stock hit its 52-week low of Rs 875. Since then, it has gained nearly Rs 600. The oil-to-retail conglomerate in a communication to bourses said a rights issue would be on the table at the meeting although it gave no details of what exactly was under consideration.

Sensex ends 371 points higher, Nifty at 9,380; IndusInd Bank, Bajaj Finance, HDFC top gainers

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