The stock of a company of Anil Ambani has been creating a storm for the last five days. During this time, this infrastructure stock has jumped 13 percent. We are talking about the Reliance Infrastructure share, which had fallen 99% from its high level, but now it is seeing a rise and on the last trading day Tuesday, its price once again went near Rs 200 and on Wednesday it has once again seen a strong rise.
The stock had reached the level of Rs 205
On the last trading day, Tuesday, the share price of Anil Ambani’s company 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 a bit and finally it closed at the level of Rs 200.75. On Wednesday, Reliance Infra Share closed with a strong rise.
Anil Ambani’s stock opened with a gain of Rs 203.45 on Wednesday as compared to the previous close and during trading it rose by 3.66 percent to reach Rs 209. However, at the close of the market, it rose by 2.85 percent to close at Rs 207. Due to the rise in the share of Reliance Infra Share, its market cap has also jumped to Rs 8,200 crore. This infra share has been making a splash for five consecutive days and during this period the stock price has risen by 12.64 percent.
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Experts had expressed this hope
Stock market experts were already expecting this stock to cross Rs 200. However, during this period, it also saw a decline. 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 for Anil Ambani’s Reliance Infra shares would be Rs 165 and the resistance would be Rs 178. Not only this, he had predicted that if this stock manages to cross the level of 178, then it can also touch the level of Rs 200. He had expected the trading range of this stock to be between Rs 155 to Rs 200 and now Reliance Infra Share has crossed Rs 200.
Amazing growth after breaking more than 99%
The stock of this company of Anil Ambani, the younger brother of Asia’s richest man Mukesh Ambani, has made a comeback after falling 99 percent. If we look at its record, on 4 January 2008, the price of Reliance Infra share was Rs 2514.35, but on 10 January 2020, it slipped by about 99% to reach Rs 24.90. After this, it made a comeback first slowly and then at a fast pace and has currently crossed 200.
Four times the money 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 in the shares of Anil Ambani’s company have received a whopping 306.49 percent return in 5 years. On August 2, 2019, the share price was Rs 50. If we calculate this, then if an investor had invested Rs 1 lakh in Reliance Infrastructure Share at that time and held 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, please consult your market experts.)