Zee Business Managing Editor and market guru Anil Singhvi explains that Reliance Partly Paid up shares should trade in the range of Rs 1150 – Rs 1200 at Relisting. 

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Varun Dubey, Senior Research Analyst at Zee Business says that trading in Reliance Partly Paid up shares stopped from May 10th 2021. He said that during that time, Reliance Partly paid up share price was Rs 982 and Reliance share price was Rs 1925, indicating that premium was nearly Rs 950. He said that May 12th was the record date and hence trading was stopped on May 10th in Reliance Partly Paid-up shares.

 

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Dubey said that investors had to pay Rs 314.25 in the first call. Investors have to make the payment within 17th May to 31st May for the first call. Reliance Industries share prices have moved up 14% or Rs 250 - Rs 275 since Reliance Partly Paid up shares stopped trading. The issue price for Right issue was Rs 1257 and the size of the issue was Rs 53000 cr.

Dubey said that there is a good chance that Relisting of Reliance Partly Paid up shares may happen at greater premium than expected. This is because Reliance shares have moved up 14% or Rs 250 - Rs 275. Also, considering the premium between Reliance and Reliance Partly paid up shares, it indicates that Reliance Partly Paid up shares should trade in the range of Rs 1150 – Rs 1200. The 52 week high of Reliance Partly Paid up share is Rs 1470.

 

Dubey said that Investors have to pay for the 2nd call or the final call in the month of November 2021. This would be the payment of Rs 628. Investors have to make the payment within November 15th to November 29th for the final call.

Dubey said that Reliance partly paid up share listing will not happen at Rs 1300. The difference between Reliance and Reliance Partly Paid up share should be less. Trading for Reliance Partly Paid up shares happened at Rs 690 in Jan 2020.

Market Expert Kiran Jadhav said that falling trendline breakout which was witnessed 4 or 5 sessions ago on Reliance Industries seems to be retested. Reliance Industries should be bought with stop loss below 2150 and target price of Rs 2225, which would act as a resistance for the stock. Above 2225, Reliance Industries will break out on the further upside.