Share price of Mukesh Ambani led Reliance Industries rose in early trade on Thursday amid reports that Reliance Jio Platforms was in active talks with KKR and Co to raise between $750 million to $1 billion.
RIL share price gained 1.8% intraday to Rs 1460.85 against the previous closing of Rs 1434.65 on BSE today. On the National Stock Exchange, the stock touched day's high of Rs 1,461.
RIL stock price trades higher than its 50, 100 and 200 day moving averages but lower than 5 and 20 day moving averages.
The stock has risen 0.32% in one week and 16.5% in one month. However, it has fallen 4.89% since the beginning of the year.
Shares of Reliance Industries closed at Rs 1,440 on BSE and NSE.
The deal with the American global investment firm is expected to be completed in the coming weeks.
In another update, shares of Reliance Industries - Rights Entitlement (RIL - RE) jumped over 27% to hit day's high of Rs 258, as against the previous closing price of Rs 212 on the National Stock Exchange on May 21. Amid intraday volatility, the stock hit the day's low of Rs 190.25 and ended at Rs 232, rising 14.77% or 29.85 higher. This is after the stock rose 39% on Wednesday's trade.
RIL - RE share price is calculated from the difference between the last closing price of Reliance Industries at Rs 1,408.9 per share and the company's rights issue price of Rs 1,257.
The issue will remain open till June 3. The share will be allotted and listed on June 10 and June 12, respectively.