Reliance capital limited stock hits upper circuit: The shares of Anil Ambani’s debt-ridden company Reliance Capital Limited are seeing a steady rise on Wednesday as well. The company’s stock has been hitting the upper circuit continuously since Friday. Actually, this rise is after the news, in which it has been said that companies like Adani, Piramal, KKR have shown interest to buy Reliance Capital.
PTI quoted a source familiar with the matter as saying that 14 major companies, including Adani Finserve, KKR, Piramal Finance and Poonawala Finance, have shown interest to buy Reliance Capital. . These companies have bid for the acquisition of debt-ridden Reliance Capital Limited. Since this news, the shares of Reliance Capital are seeing a rise of up to 5% every day.
Also Read – Amazing Returns! This penny stock made an investment of Rs 1 lakh in 5 months to Rs 13 crore
Shares in upper circuit for four consecutive trading sessions
Shares of Reliance Capital jumped 4.97 per cent to Rs 15.83 on the Bombay Stock Exchange (BSE) today. Earlier on Tuesday, the company’s stock had an upper circuit and closed at Rs 15.08. On Monday, shares of Reliance Capital were stuck on the upper circuit with a gain of 4.97% at Rs 14.37. On March 11 too, the company’s shares had an upper circuit and closed at Rs 13.70, up 5 per cent. Its closing price was Rs 13.2 on March 10, which has now crossed Rs 15. The stock of the company has given a return of about 20% during this period. Let us tell you that the 52 week high of the company’s stock is Rs 30.80, which was reached on 24 June 2021. Market cap is Rs 400 crores
March 25 is the last date for bidding
The date for filing bids for Reliance Capital, which was set by the Reserve Bank of India (RBI)-appointed administrator on March 11, has now been extended to March 25. The deadline for submission of bids has been extended on the request of some of the prospective bidders, who had sought more time to file the Expression of Interest (EoI). Sources said most of the bidders have bid for the entire company.
Also read- Adani, including KKR bid to buy Anil Ambani’s bankrupt company, buying of shares will increase!
RBI had dissolved the board of directors
The RBI had on November 29 dissolved the board of Reliance Capital and appointed former Bank of Maharashtra executive director Nageswara Rao as administrator. The very next day, the central bank had also constituted a three-member panel to assist the administrator. Anil Ambani-led RCL faces several serious allegations of default in loan repayment and corporate governance.