Reliance's stock became rocket after the announcement of separation of Jio Financial Services, market cap 18 lakh crore
Reliance Share Price: Reliance's stock has reached its all-time high in today's trade. The company's stock opened at a price of 2675 on the NSE, after which the stock jumped by 4 percent and the share price reached its all-time high of Rs.2756.
The stock of Reliance Industries, the largest company in the Indian stock market, saw a strong rise on Monday. Due to this, the stock of the company has touched its intraday high of 2756 breaking its old high of 2755. This is the highest ever level made by the stock of Reliance Industries.
The reason for the rise in the stock of Reliance Industries is the announcement of its demerger. It has been announced by the company that Jio Financial Services will be separated from the company and this demerger will be effective from July 1. Its record date has been set from 20 July.
Reliance's stock has seen a boom since the beginning of the market and remains the top gainer of the Sensex. By 12.15 pm, it was trading at Rs 2742.50 per share, up Rs 108.90 or 4.14 percent.
Today the stock opened on NSE at a price of 2675, after which the stock jumped by four percent and the share price reached Rs.2756.
Along with the share price, there was a tremendous jump in the market cap of Reliance. Its market cap crossed Rs 18 lakh crore. Its market cap was around Rs 18.50 lakh crore around 12 o'clock.
No official announcement has been made on what will be the share price of Jio Financial Services. According to a report by JP Morgan, its share price can range from Rs 179 per share to Rs 189 per share.
