REVL closes at Rs 43.90 on debut day
Mumbai, Feb 24 (UNI) Reliance Energy Ventures Ltd (REVL), an Anil Dhirubhai Ambani group company, made its debut on the bourses today.
REVL's Rs 10 share opened at Rs 48.90 on the Nationmal Stock Exchange (NSE) and dipped to a low of Rs 42.85.
It finally closed at Rs 43.90.
The volumes were high with 1.65 crore shares traded on the NSE.
On the Bombay Stock Exchange (BSE), REVL opened at Rs 45.70 and touched a high of Rs 46 and a low of Rs 42.90.
It finally closed at Rs 43.65 with 85.38 lakh shares traded on the BSE.
As a part of restructuring process presently on in the ADAG, REVL has announced it will merge with Reliance Energy Ltd.
''Sooner or later REVL will be delisted and for every 100 RCVL shares one will get seven Reliance Energy shares if they don't sell,'' a leading BSE broker said.
REVL was demerged from Mukesh Ambani-owned Reliance Industries Ltd earlier on January 25.
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