Reliance Share Price: Reliance Industries stock price has been found at Rs 2580, as the pre-open auction ended at 9.45 am. This comes at a 9.2% discount from yesterday’s closing price of Rs 2,841.85 on the NSE. Shares of Jio Financial Services are now valued at Rs 261.85 following the pre-open auction session.
During the pre-open session, traders had the opportunity to gauge the street’s sentiment and assess the fair value of Reliance Industries post-demerger. The resulting difference between RIL’s pre-demerger closing price and the discovery price during the pre-open auction was used to calculate the initial stock price of Jio Financial Services.
Live Updates 14:34 (IST) 20 Jul 2023 Jio Financial Services potential
“The market discovered price of Rs 261.85 per share of Jio Financial Services has come much higher than most brokerages’ estimates. This high price is a reflection of the market’s assessment of Jio Financials’ potential. The wide reach of JFSL through RIL’s other business segments like Reliance Retail has the potential to grow the company at a fast pace for many years to come. The market is discounting this potential.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
12:31 (IST) 20 Jul 2023 Reliance Industries share price
Following its demerger from Jio Financial Services, Reliance Industries share price traded at Rs 2,615.35 on the NSE, up 1.37% from the pre-open session price of Rs 2580 apiece. On the BSE Sensex index, shares were trading at Rs 2615.40, up 1.02%.
11:48 (IST) 20 Jul 2023 RIL demerger in 2005
RIL board permitted RIL- split on June 19, 2005. Among RIL’s group companies, Reliance Industries and Reliance Capital were already listed. The remaining companies were listed in February and March 2006 with the creation of three new subsidiaries (Reliance Natural Resources Ventures, Reliance Energy Ventures and Reliance Communications). After the split, there was an increase of 38% in shareholder wealth as RIL shares did not fall post-split, in addition to which investors got the additional entities, effectively for free.
– Nuvama
11:29 (IST) 20 Jul 2023 Will Jio Financial Services be included in derivatives?
No. As per the current methodology, a stock needs to have at least six month trading history to even qualify for derivative inclusion. After fulfilling all the quantitative qualification criteria for the derivative inclusion , the stock will need SEBI approval (which is quite subjective), said Nuvama.
11:23 (IST) 20 Jul 2023 Jio Financial Services to remain in MSCI Standard Index
MSCI Standard Index will maintain demerged entity JFS in the index. The index provider said, “Based on the estimated post-event company full and float adjusted market capitalizations, Jio Financial Services satisfies the criteria to be added to the Large Cap segment of MSCI Global Standard Indexes.”
11:16 (IST) 20 Jul 2023 Reliance Industries share price
Following its demerger from Jio Financial Services, Reliance Industries share price traded at Rs 2,617 on the NSE, up 1.43% from the pre-open session price of Rs 2580 apiece. On the BSE Sensex index, shares were trading at Rs 2618.15, up 1.13%.
10:53 (IST) 20 Jul 2023 Change of RIL weightage
Reliance Industries’ weight in Nifty 50 Index will move to around 10% (assuming price of Rs 2,580) vs approximately 11.1% as on July 19th 2023. In Sensex, the weightage will move to around 11.8% from 12.8% on July 19th.
10:42 (IST) 20 Jul 2023 When will Jio Financial Services be listed?
“There is no concrete listing day yet and it may take few weeks’ time to get all the listing approvals. JFS being carved out from one of the biggest giants so we expect the listing process should be fast tracked and quite likely JFSL may be listed in a month’s time (or even earlier).”
– Nuvama
10:41 (IST) 20 Jul 2023 Hypothetical price scenario for Jio Financial Services
Nuvama shared a hypothetical price scenario for JFS on its Trading (T) + third day of listing. At Rs 261.8/share, Nifty 50 index passive trackers could sell around 90 million shares which is equivalent to appx $290 million. Alongside Sensex index trackers could sell 55 million shares which is equivalent to appx $175 million.
10:38 (IST) 20 Jul 2023 RIL shares intraday high
RIL shares touch an intraday high of Rs 2,630.95 apiece, up almost 2%.
10:10 (IST) 20 Jul 2023 Traded volume
Including the pre-open session, 55,88,770 shares of Reliance Industries have exchanged hands in trade on Thursday.
10:01 (IST) 20 Jul 2023 Reliance Industries shares begin trading
Reliance Industries shares begin trading after the pre-open session. The shares jump over 1% to cross the Rs 2600 mark.
09:59 (IST) 20 Jul 2023 RIL m-cap
With a share price of Rs 2580, the market cap of Reliance Industries is Rs 17.5 lakh crore.
09:56 (IST) 20 Jul 2023 Jio Financial Services m-cap
The market-cap for Jio Financial Services stands at Rs 1.66 lakh crore based on the share price of Rs 261.85.
09:55 (IST) 20 Jul 2023 BSE vs NSE price
On the BSE, RIL shares have settled at Rs 2589 apiece, whereas on the NSE, Reliance Industries’ stock price has closed the session at Rs 2580 per share.
09:54 (IST) 20 Jul 2023 Jio Financial Services at Rs 261.85 apiece
Shares of Jio Financial Services are now valued at Rs 261.85 following the pre-open auction session.
09:50 (IST) 20 Jul 2023 Reliance Industries pre-open auction ends
Reliance Industries stock price has been found at Rs 2580, as the pre-open auction ended at 9.45 am. This comes at a 9.2% discount from yesterday’s closing price of Rs 2,841.85 on the NSE.
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09:40 (IST) 20 Jul 2023 Why JFS will enter Nifty 50
Once Jio Financial shares get listed on exchanges, the stock will remain as the 51st stock in Nifty 50 index for three days. This will help volatility to settle in and let investors adjust their portfolios.
09:36 (IST) 20 Jul 2023 Reliance Industries indicative price
As of 9.36 am, the indicative price for Reliance Industries is Rs 2,544 apiece, according to NSE.
09:29 (IST) 20 Jul 2023 1 RIL share = 1 JFS share
Under the scheme of the arrangement, Reliance Strategic Investments will allot one fully paid-up equity share of RSIL or JFS of face value of Rs 10 each, for every one share of Reliance Industries as of the record date.
09:25 (IST) 20 Jul 2023 Reliance Industries indicative price
As of 9.25 am, the indicative price for Reliance Industries is Rs 2,534 apiece, according to NSE.
09:24 (IST) 20 Jul 2023 JFS to enter Nifty 50, other indices
Jio Financial Services will enter the Nifty 50 index along with other BSE, NSE indices. However, this will not be tradeable, and instead, will be a dummy ticker. This will remain until Jio Financial Services is listed on the bourses.
09:22 (IST) 20 Jul 2023 Understanding the pre-open session
The difference between RIL’s pre-demerger price and the pre-open session discovery price will be considered as the Jio Financial Services’ stock price. For example, if RIL’s share price settled at Rs 2,000 apiece on 19 July, and ends at Rs 1,800 during the pre-open auction session today, then JFS shares will be valued at Rs 200 apiece.
09:21 (IST) 20 Jul 2023 Jio Financial Services Q1FY24 results
Jio Financial Services announced its June quarter results. The consolidated net profit came in to Rs 331.92 crore on a total income of Rs 414.13 crore.
09:19 (IST) 20 Jul 2023 JFS shares valuation at Rs 168: Nuvama
The demerger is a spin-off of RIL’s 6.1% treasury shares, which Nuvama had valued at Rs 117 apiece, coming in at 4% of Reliance Industries’ closing price on July 14 of Rs 2,740.7 apiece. This valuation assumes a 30% holdco discount, without which, the valuation per share will be Rs 168 per share, at 6% of Friday’s closing price ex-discount.
09:17 (IST) 20 Jul 2023 JFS shares valuation at Rs 160: Axis Securities
Axis Securities values Jio Financial Services at the treasury stock valuation of Rs 1,08,597 crore (1x RIL’s treasury stock valuation). The company’s total outstanding shares stand at Rs 676.6 crore, implying each share’s valuation would be Rs 160/share.
09:16 (IST) 20 Jul 2023 Reliance Industries indicative price
As of 9.15 am, the indicative price for Reliance Industries is Rs 2,635 apiece, according to NSE.
09:15 (IST) 20 Jul 2023 Reliance Industries pre-open kicks off
Reliance Industries’ pre-open session begins. This session aims to facilitate price discovery, which is crucial in establishing the initial trading range for JFS shares. Regular trading in RIL shares might not be available till 10 am.