Shares in many companies of Anil Ambani, the younger brother of Asia’s richest man Mukesh Ambani, have been doing wonders for some time. These range from Reliance Power to Reliance Infra. But here we are talking about Reliance Home Finance stock, which has faced upside risks for four consecutive days. As soon as the stock market opened on Monday, it entered an upward trend again.
Share price has fallen below Rs 1
The Anil Ambani stock was worth Rs 107 seven years ago on September 20, 2017, but had fallen below Re 1 by April 2020. On April 3, 2020, its price was only 75 paise. Now, the stock seems to be gaining momentum again, as measured by the fact that Anil Ambani’s stock has been hitting the upper reaches over the past four days.
The Sheunghuan Line will start immediately after the market opens
Shares of Reliance Home Finance are rising again after falling below Rs 107 to Rs 1, with shares of Anil Ambani’s company also opening strongly higher as the stock market started trading on Monday. The stock opened at Rs 4.59, up 4.79%. At this point, the company’s market capitalization has also increased to 222.64 billion rupees. Notably, the stock’s 52-week high was Rs 5.80.
Multibagger made in one year
Anil Ambani’s company may be trading at a discount, but it’s delivering handsome returns to investors. The number of investors in this stock has increased two and a half times in the past year alone. In fact, a year ago on September 25, 2023, the stock was priced at Rs 1.85 and is now trading at Rs 4.59. According to this, Reliance Home Finance Share has returned over 148%. Not only that, the stock has gained 19.22% in the past five days.
LIC holds major stake in Reliance Home
Reliance Home Finance’s public shareholding is over 99%, while its promoter Anil Ambani’s stake is less than 1%. At the same time, LIC, the country’s largest insurance company, bought a major stake in the company. According to the shareholding pattern, LIC owns over 7.4 million shares.
(Note – Always take advice from market experts before making any investment in the stock market.)
