REVL lists at Rs 48.90 on NSE, drops later

Mumbai, Feb 24 (UNI) Reliance Energy Ventures Ltd (REVL), an Anil Dhirubhai Ambani Group (ADAG) company, made its debut on the bourses today.

REVL's Rs 10 share opened at Rs 48.90 on the National Stock Exchange (NSE) and dipped to a low of Rs 42.85 and was trading at Rs 44.20 at 1136 hours. The volumes were high with 96.96 lakh shares traded so far on the NSE.

On the Bombay Stock Exchange (BSE), REVL, demerged from Mukesh Ambani-led Reliance Industries, opened at Rs 45.7 and touched a high of Rs 46 and a low of Rs 42.9.

It was trading at Rs 44.35 at 11.51 hrs with 60.81 lakh shares traded on the BSE.

As a part of restructuring process presently on in the Anil Dhirubhai Ambani group (ADAG), REVL has announced it will be merging 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.

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