Mumbai (Maharashtra), May 20 -- : The first day when Reliance Industries -- Rights Entitlement (RIL-RE) issue opened today, the online trading in RIL-RE reached high volumes with buyers outpacing sellers and the price soaring.
According to sources, RIL-RE issue became the first issue where eligible shareholders got the rights entitlements (REs) in demat, which could be traded on stock exchanges. Reliance RE price soared 39.5 per cent to Rs 212 on the National Stock Exchange (NSE)
Sources said that Reliance RE had more volumes than the RIL share itself. Throughout the day, Reliance RE traded at a premium to its intrinsic value - or the difference between RIL's CMP and the Rights Issue price of Rs 1,257. This shows great demand for RIL's RE...