RSML’s Share Opens at Rs 300 Per Unit, NEPSE’s New Opening Range Rule Draws Criticism
Summary
Reliance Spinning Mills Limited shares opened at Rs 300 per unit under NEPSE's new opening price range rule, drawing criticism from market participants and the company itself.
Key Points
- Reliance Spinning Mills Limited's shares debuted at Rs 300 per unit on the stock market.
- NEPSE introduced a new opening price range rule limiting price to three times face value or net worth per share below Rs 100.
- The new NEPSE rule has been criticized for forcing investors to trade shares below their initial investment cost of Rs 820.80 per unit.
- RSML reported increased revenue and net profit in Q2 2082/83, with net worth per share at Rs 490.54 and earnings per share at Rs 16.08.
