InvestorQ : How has the Reliance Rights Entitlements been traded of late? When does trading in the RIL-RE close?
vidhya Laxmi made post

How has the Reliance Rights Entitlements been traded of late? When does trading in the RIL-RE close?

image
5 months ago
Follow

The trading in Reliance Rights Entitlements (RIL-RE) closes on May 29. On the penultimate day, the markets saw a sharp spike in trading volumes as well as the price of the RE. Volumes on RIL-RE surged to 3.4 crore shares even as the price of the RE on a VWAP basis surged by 23% to Rs.221. At the closing price of Rs.1472, the intrinsic value of the RE stood at Rs.215 (1472 – 1257). However, as can be seen, the premium has substantially shrunk and the RE is now purely moving in tandem with the stock price. The premium is likely to entirely vanish by the end of trading on Friday, which is the last day. The rights entitlements were credited to the demat account of rights eligible shareholders of RIL and it was for the first time that RE was traded in such large volumes on the stock exchange platform. This is indicative of the appetite in the market for RIL stock.

1 Views