InvestorQ : Why has the stock of Reliance Partly Paid still been rallying so fast?
Anu Biswas made post

Why has the stock of Reliance Partly Paid still been rallying so fast?

Answer
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Neelam Naik answered.
3 months ago


On 23 June, the shares of Reliance Industries partly-paid (RIL PP) settled at Rs.849.65 up 4.52% and even managed to hit upper circuit at Rs.894.15. Over just three days, RIL partly paid shares rallied 22% as RIL moved more confidently towards becoming free of net debt. The RIL PP shares have a face value of Rs.2.50 and will become fully paid up only when the full rights amount is paid up by November 2021.

It was largely reflective of the share price movement of Reliance Industries, which hit a lifetime high of Rs.1804 on 23 June. The stock price has jumped over 100% from the recent lows of Rs.868 on March 23. The Reliance PP share reflects a fraction of the price of RIL plus the advantage derived because the rights was priced lower than the market price.