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The benchmark rose as much as 0.8% earlier in the session, but pared gains after the Reserve bank of Australia (RBA) kept its cash rate at 0.1% but noted inflation had picked up and was likely to rise further.

The pan-European STOXX 600 index was up 0.1% at 0710 GMT, after two days of gains.

The stock quoted a 52-week high price of Rs 354.55 and low of Rs 223.0.

A total of 234,973 shares changed hands on the counter till 01:49PM (IST)

The quota reserved for retail bidders was subscribed 10.76 times, whereas HNI quote fetched 3.87 times bids. The allocations for institutional bidders was subscribed a little more than two times.

A total of 726,118 shares changed hands on the counter till 12:33PM (IST)

Promoters held 37.4 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 18.16 per cent and 0.02 per cent, respectively.

Bank of Maharashtra’s scrip rose to a high of Rs 18.70 as against Rs 18 at previous close on the BSE.

The issue, which kicked off for subscription on March 30, has been subscribed 3.99 times so far, with investors making bids for 3,39,55,726 equity shares against 8,500,000 equity shares on offer, data available with BSE showed. The IPO will close for subscription today.

“Reliance Industries is all set for higher growth from all its verticals – the Jio vertical, the retail vertical and the entire oil and gas vertical as well are showing district signs of higher amount of profit growth in FY22-23. In my view, the renewable business which the company is implementing, could be the next kid on the block, which could assume higher valuations.”