Reliance Infrastructure Stock: Shares of Anil Ambani’s company Reliance Infrastructure are rising like a rocket. Last Friday, the stock rose nearly 7% to Rs. reached the level of 169. The stock rose 6.37% to close at Rs 167 at the close of trading. This rise in Reliance shares is due to a news related to the company.
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A new company came into being
Reliance Infrastructure’s Reliance Velocity Limited (RVL) has formed a new company as Reliance EV Private Limited (REVPL). It has been received from the Ministry of Corporate Affairs on June 8, 2024. In a BSE exchange filing, the company announced that the main objective of the new subsidiary is to deal in the manufacturing of all types of vehicles and equipment for transport and transportation using any type of fuel.
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Investors jump on this railway stock, the company has orders worth ₹85000 crore.
A seasoned investor has a stake
Veteran investor Vijay Kedia also has a stake in Reliance Infra. Vijay Kedia’s company Kedia Securities holds around 40 lakh shares or 1.01% stake in the company till March 2024. Increased its stake in Anil Ambani-led Reliance Infrastructure.
Talking about the shareholding pattern of Reliance Infra, the promoter holds 16.50 percent stake. Talking about public shareholding, the share is 83.39 percent. Among the promoters, the Anil Ambani family holds 6,63,424 shares or 0.17 per cent stake. Reliance Project Venture and Management Pvt Ltd holds 16.33 percent stake. Let us tell you that the 52 week high price of the stock is Rs 308 and the 52 week low price is Rs 134.