The Reliance Power Ltd shares performed lower than expectations on Friday after it started trading ex-bonus. The share prices touched intra day low of Rs 231.70. Many of the analysts were expecting the stock to settle somewhere around 270-280 levels. Reliance Power has announced to give three bonus shares for every three held. You can read the story here. May 30th was set as the ex-date for this.

So the traders were selling the stocks and booking profits at every rise. This was the biggest IPO to hit the Indian markets. The issue got listed in the markets on Feb 11th at Rs 525. But the markets were down since Jan. So the issue did not perform as per expectations. There is hardly any fundamental on which we can measure this stock as of now. But given the name of the brand “Reliance”, it is expected to do well in coming days and once they become operational we can for sure judge the performance of the stock.

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