Shares of a company owned by Anil Ambani have been creating a storm for the last five days. During this period, this infra stock has risen by 13 percent. We are talking about Reliance Infrastructure Share, which had fallen by 99% from its high level, but now it is seeing a rise and on Tuesday, its price once again touched 200. It had gone close to the rupee and once again a strong rise was seen on Wednesday.
The share had gone up to the level of Rs 205
On Tuesday, the last trading day, the share market of Anil Ambani’s company had crossed Rs 200 as soon as the market opened and during the day’s trading, it jumped by about 3 percent and touched the day’s high level of Rs 205.60. However, when the market closed, its pace slowed down and finally it closed at the level of Rs 200.75. On Wednesday, Reliance Infra Share closed with a strong rise.
Compared to the previous close, Anil Ambani’s shares opened at Rs 203.45 on Wednesday with a rise and during trading it reached Rs 209 with a gain of 3.66 per cent. However, when the market closed, it rose by 2.85 percent and closed at Rs 207. Due to the rise in the shares of Reliacne Infra Share, its market cap has also jumped to Rs 8,200 crore. This infra share has been creating ruckus for five consecutive days and during this period the stock price has increased by 12.64 percent.
Experts had expressed this hope
Stock market experts were already expecting this stock to cross Rs 200. However, a decline was also seen during this period. Let us tell you that Anand Rathi’s Technical Research Senior Analyst Jigar S Patel had said in the month of May that the support of Anil Ambani’s Reliance Infra shares will be Rs 165 and resistance will be Rs 178. Not only this, he had predicted that if this stock succeeds in crossing the level of Rs 178, then it can also touch the level of Rs 200. He had expected the trading range of this share to be between Rs 155 to Rs 200 and now Reliance Infra Share has crossed Rs 200.
Amazing rise after breaking more than 99%
The shares of this company of Anil Ambani, younger brother of Asia’s richest man Mukesh Ambani, have made a comeback after falling by 99 percent. If we look at its record, on January 4, 2008, the Reliance Infra share price was at Rs 2514.35, but on January 10, 2020, it slipped by almost 99% to reach Rs 24.90. After this it made a comeback first slowly and then at a fast pace and currently has crossed 200.
Money quadrupled in 5 years!
Even though Reliance Infrastructure shares have seen huge fluctuations, this stock has proved to be a multibagger for its investors in five years. Investors who invested money in the shares of this company of Anil Ambani have got a whopping return of 306.49 percent in 5 years. On August 2, 2019, the share price was Rs 50. If we calculate accordingly, if an investor had invested Rs 1 lakh in Reliance Infrastructure Share at that time and had kept it till now, then his amount of Rs 1 lakh would have increased to Rs 4 lakh by now.
(Note- Before making any investment in the stock market, definitely take advice from your market experts.)
