This Chandigarh man stumbles upon Reliance shares from 1988, worth lakhs. He has no clue what to do | Stock Market News
Source: Live Mint
A Chandigarh-based man experienced a financial windfall when he discovered physical shares of Reliance Industries Limited (RIL) worth ₹11 lakh after around four decades.
Rattan Dhillon, a car enthusiast, found the Reliance shares at his home while spring cleaning.
According to the share documents, 30 equity shares of Reliance Industries Limited were bought at ₹10 each in 1988 by an individual who is now no more.
Dhillon, unfamiliar with the stock market, shared the RIL share documents on social media platform X, seeking advice on what to do with them.
The post, created at 9 am on March 11, has since gone viral, garnering more than one million views.
Several users responded to Dhillon’s request, with one person calculating the shares’ total value — after three stock splits and two bonuses, it will be between ₹11 lakh and ₹12 lakh. The stockholding had grown to 960 shares.
Also Read: How to convert physical shares into demat form? Here’s a step-by-step guide
A user, Tiger Ramesh, wrote: “Rough approximate calculations: Total initial shares = 30. After 3 splits and 2 bonuses, it should be 960 shares today. Today’s value approximate ₹11.88 lakhs.”
Another user said: “ Oh bhai lottery lag gayi apki. Isko remat form se demat karva lo. Need help toh just dm me.”
“Rattan bhai aur acche se ghar chaan maro, kya pata MRF ke bhi nikal aayein kuch shares…😍,” oneuser commented.
Another useradvised:“Yeah! You have to email them, with the attached proof, and they have their process to credit these to your Demat. You’ll need to bring these to their office for verification, and then they will credit these shares digitally to your demat, the total ones after splits etc.”
Reliance Industries stock on Tuesday closed at ₹1,247.40, up by ₹9.20, or 0.74 per cent.
On Monday, Morgan Stanley projected nearly a 29 per cent upside on Reliance Industries from its previous closing price.
The brokerage has an “overweight” rating on the stock with a price target of ₹1,606 per share.
It said RIL’s valuations and prospects of its earnings recovery ensure that it remains the brokerage’s top pick.
