Reliance Industries 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. The pre-open auction was conducted for price discovery of RIL stock without the inclusion of the Jio Financial Services arm, which is now valued at Rs 261.85.
Understanding the pre-open auction session
In a bid to determine the market’s valuation for Reliance Industries’ demerged entity Jio Financial Services (JFS), a pre-open call auction is scheduled on July 20, during 9-10 am. 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.
“This derived price of Jio Financial will be considered on a daily basis for Nifty index value computation until it gets listed on the bourses. 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,” said Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities.