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Anil makes a killing
June 21, 2005 09:12 IST
Anil Ambani's proposed personal investment of Rs 3,000 crore (Rs 30 billion) in Reliance Capital and Reliance Energy has fetched him a notional gain of Rs 730 crore (Rs 7.3 billion) within a day.
The market capitalisation of Reliance Capital, in which Anil has proposed to invest Rs 2,000 crore (Rs 20 billion), appreciated by Rs 581 crore (RS 5.81 billion) on Monday. The notional gain on his Rs 1,000-crore (Rs 10 billion) investment in Reliance Energy is Rs 149 crore (Rs 1.49 billion).
Reliance capital surged 30 per cent on Monday to close at Rs 294.20 from its Friday's close of Rs 235.75. Anil had proposed to buy 8.77 crore (87.7 million) shares of the company at a price of Rs 228 per share.
At the current price level of Rs 294.20, the value of his investment rose from Rs 2,000 crore (Rs 20 billion) to Rs 2,581 crore (Rs 25.82 billion) on Monday.
Reliance Energy gained 11.3 per cent on the bourses to close at Rs 658.25 from the Friday's close of Rs 591.25. Anil proposed to buy 1.74 crore (17.4 million) shares of the company at a price of Rs 574 per share.
At the current price level of Rs 658.25, Anil's notional wealth from his REL investment was up 14.7 per cent to Rs 1,149 crore (Rs 11.49 billion).
Two days after the formal separation, Reliance Capital and Reliance Energy, now under Anil, stole a march at the stock exchanges over Reliance Industries and IPCL, run by Mukesh Ambani.