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Jun 13, 2012, 12.16 PM IST
Anil Dhirubhai Ambani Group company Reliance Capital gained as much as 2.3% to intraday high of Rs 352.60 as it has received SEBI approval for 26% stake sale in Reliance Capital Asset Management to Nippon Life Insurance.
Anil Dhirubhai Ambani Group company Reliance Capital gained as much as 2.3% to intraday high of Rs 352.60 as it has received SEBI approval for 26% stake sale in Reliance Capital Asset Management to Nippon Life Insurance.
In a release sent to exchanges, company said, "It has received approval from the Securities and Exchange Board of India (SEBI) for its proposed stake sale in Reliance Capital Asset Management (RCAM), India’s largest and most profitable Asset Management Company (AMC). Approval for the stake sale has also been received today from the Monetary Authority of Singapore (MAS)." At 12:07 hours IST, the share was trading at Rs 348.25, up 1.07% with volumes of 7,93,317 shares. Market capitalisation of the company currently stands at Rs 8,572.52 crore. In the previous trading session, the share closed up 3.39% or Rs 11.30 at Rs 344.55.
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