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12-Sep2017

Religare Enterprises touches the roof on getting nod to invest up to 500 crore in subsidiary

Religare Enterprises is currently trading at its upper circuit limit of Rs. 44.50, up by 2.10 points or 4.95 % from its previous closing of Rs. 42.40 on the BSE.

The scrip opened at Rs. 44.50 and has touched a high and low of Rs. 44.50 and Rs. 43.35 respectively. So far 933951 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 287.00 on 15-Nov-2016 and a 52 week low of Rs. 36.95 on 08-Sep-2017.

Last one week high and low of the scrip stood at Rs. 44.45 and Rs. 36.95 respectively. The current market cap of the company is Rs. 794.13 crore.

The promoters holding in the company stood at 50.89%, while institutions and non-institutions held 19.38% and 29.72% respectively.

Religare Enterprises has received shareholders approval for a proposal to invest up to 500 crore in its arm - Religare Capital Markets for repaying debt related to Mauritius business, and capital needs of India business. The shareholders have given their approval to an ordinary resolution through postal ballot.

Religare Enterprises is one of India's leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.


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