Stock Exchange Impact / Modi Package: The Sensex closed 637 points and the Nifty closed at 187 points on the third trading day of the week.
The market is closed on the third trading day of the week. The Sensex was up 1470.75 points and the Nifty 387.65 points. However, the Sensex came down by 600 points in the first half-hour of trading.
The Sensex was up 637.49 points or 2.03% at 32,008.61 and the Nifty was up 187.00 points or 2.03% at 9,383.55. Earlier on Tuesday, the market was closed. The Sensex was down by 190.10 points at 31,371.12 and the Nifty was down by 42.65 points at 9,196.55.
20 lakh crore rupees package announce
Prime Minister Modi reached the country on Tuesday for the fifth time in 54 days. In his speech, he said four important things. First - the country has to become self-sufficient. Second, a package of Rs 20 lakh crore will be provided for confidence campaigns in India. Third, on the path of self-confidence, we should follow local products. Fourth- The fourth phase of locking is coming, but it will have a new look and new rules. During the lockout, India became the fifth largest country in the world, contributing 10% or more of its GDP as an economic economy. Before India, Japan accounted for 21% of its GDP, 13% of the United States, 12% of Sweden, and 10.7% of Germany.
RIL is raising Rs 53,124 crore on the rights issue. It is currently the largest rights issue in the country.
Reliance Industries, which brings the largest ownership issue in the history of the country, said that in this exact issue, the company would use (optional) transactions with partial (partial, incomplete or decimal) terms. This is ignored by shareholders. This means that a shareholder who has the right to buy less than one share can give additional shares to the company on a preferred basis. However, the company stated that the facility continues to hold additional shares in granting these rights. It has set a target of raising Rs 53,124 crore on these rights issues.
Partial rights will be ignored in the calculation of rights.
In a statement to the stock exchange, Reliance Industries (RIL) has stated that if an eligible shareholder has less than 15 shares of RIL, or does not hold more than 15 shares in its holding, such entitlement shall be made to the eligible shareholder. It is right to be ignored in the calculation. Part. However, eligible shareholders who are partially disabled can apply for an additional share in their rights. The company may give them an additional share on a preferred basis. That is, they have the opportunity to apply for an additional share in their field. However, this depends on the availability of additional shares in the rights issue.
In this way understand the desired rules
In the proper issuance of this RIL, eligible shareholders are authorized to apply to purchase one share for every 15 shares held by them. But some shareholders may have less than 15 shares. Some shareholders may have more than 15 shares, but no more than 15 shares. For example, one can have 12 shares. Or one can hold 42 shares. In this case, whoever owns 12 shares should have the right to buy 0.8 shares from a logical point of view. Such right to purchase less than one number and less than one share is called fractional license. Such partial rights will be ignored when calculating copyright rights in this rights issue. Similarly, an eligible shareholder with 42 shares should obtain the right to purchase 2.8 shares in a counter-production mode. But in this issue the owner of such shares will get the right to buy only 2 shares and partial ownership of 0.8 shares will be ignored. Within this eligible area, the company offers the facility to apply to buy a share
Pay 25% of the initial price at the time of applicationThe company stated that shareholders would have to pay 25% of the initial value when applying for rights. I.e. the shareholder has to pay Rs. 2.50 face value and Rs. 311.75 towards premium, i.e. Rs. 314.25 while applying for each share. The remaining Rs.942.75 will be paid in one or more installments under the number fixed by the Board.
