Reliance share price Soars to 52-Week High, Here’s Why The Stock is in Focus
Reliance Share Price Surges: Mukesh Ambani-led Reliance Industries (RIL) witnessed a 4.5% jump as its shares reached a 52-week high of Rs 2,755 apiece on the BSE intraday on July 10. The surge came after the conglomerate, known for its presence in oil-to-telecom sectors, announced its intention to demerge its financial services division into Reliance Strategic Investments Limited (RSIL) and subsequently rename and list it as Jio Financial Services Limited (JFSL).
According to the company, Jio Financial Services will provide lending services to consumers and merchants based on proprietary data analytics and is expected to expand into areas such as insurance, payments, digital broking, and asset management.
Reliance Share Price 52-Week High
Reliance Sets Record Date for Jio Financial Services Demerger: On Saturday, Reliance announced that the record date for the demerger of Jio Financial Services would be on July 20, 2023. This decision comes after receiving approval from the Hon’ble National Company Law Tribunal, Mumbai Bench, as mentioned in our previous letter dated July 6, 2023. In accordance with the scheme’s provisions, Thursday, July 20, 2023, has been designated as the record date to determine the equity shareholders eligible to receive the new equity shares of the resulting company.
