Community Information
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What's up with Swan Defence (Reliance Naval formerly)?
Swan Defence which was earlier known as Reliance Naval was recently reinstated into NSE/BSE and trading was resumed after a period of 1.5 years. This was after Swan Group took over the company from Reliance. Now earlier it's share price was Rs 1-2 and I was owning quite a few shares(in thousands) . And when the trading resumed it showcased the same number of shares, however after a day or two suddenly in my demat it showed that there were only 89-90 shares of swan defence. In two separate parts in my demat account it's growing 89-90 shares in one place and some thousands in another. What could be the reason for this? Did swan share issue 1 share for 250 shares of reliance naval or something, cause the price now was 35 ish and it has hitting upper circuit for a while to reach 50.3
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