Reliance Infrastructure Share Price Hit 5% Upper Circuit After ₹81 Crore Block Deal Involving 51.69 Lakh Shares

Mumbai, November 27: Reliance Infrastructure share price is witnessing heavy investor demand today, after a ₹81 crore block deal was executed on November 25. As of 12:55 PM, Reliance Infrastructure shares were up by 5%, or 7.89 points and were trading at ₹165.85. Until now, the shares have traded within a range of ₹165.85 and ₹165.85, as the shares hit the upper circuit as soon as the market opened. The traded volume for the Reliance Infrastructure stock stood at 2.08 lakh shares, with the company’s market cap at ₹6,455 crore. The shares have their 52-week high at ₹423.40 and their 52-week low at ₹149.16.

Shares Rise After ₹81 Crore Block Deal Involving 51.69 Lakh Shares

The rise in the share price comes after investors reacted to a large block and bulk deal executed earlier this week. On 25 November, a combined 51,69,059 shares changed hands at ₹157.00 per share. Florintree Insurtech LLP sold the entire stake and Elimath Advisors Pvt Ltd emerged as the buyer in both the bulk and block categories. The deal was worth ₹81 crore.

Investor Takeaway

Block deals are one of the main factors that influence investor sentiments. However, investors have reacted positively to the block deal carried out for Reliance Infrastructure, as the stake sold by Florintree Insurtech LLP was quickly bought by Elimath Advisors Pvt Ltd. The shares of the company continue to be a part of the NIFTY500 Value 50 index. It remains to be seen if the shares can sustain this performance by the end of today’s trading session and tomorrow.

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