Mukesh Ambani: Mukesh Ambani preparing for big bang, huge jump in Reliance shares, how far the price can go – mukesh ambani preparing for jio like disruption again know the detail
Reliance Payments Solutions, Jio Payments Bank, Reliance Retail Finance and Reliance Retail Insurance Broking will be included in the new company of Reliance. According to the demerger plan, existing shareholders of Reliance will get one share of the new company for one share. The company’s board had approved the demerger in October last year. KV Kamath was made the non-executive chairman of the new entity. According to the plan, equity shares of the group’s non-bank lender Reliance Strategic Investment (RSIL) will be issued to the existing shareholders of Reliance in the ratio of 1:1. Its shares will be listed on the stock market and the company formed after the demerger will be named Jio Financial Services.
How far can the stock go
In the last financial year, Reliance’s financial services business and RSIL had a revenue of Rs 1535.6 crore and a combined asset base of Rs 27,964 crore. Reliance informed the stock markets that the NCLT has approved its plan. This led to a rise in the company’s shares. Experts say that the company’s stock can go up to Rs 2450 and then up to Rs 2600 in the near future. Its 52-week high is Rs.2,855 and its low is Rs.2,180.00. The company’s stock had hit a 52-week high on April 29 last year, while it had touched a low on March 20 this year.
