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    HomeNewsBusinessStocksReliance Capital eyes banking license; shares soar 5%

    Reliance Capital eyes banking license; shares soar 5%

    "We will apply for license in partnership with Japan-based Sumitomo Mitsui Trust Bank and Nippon Life, which hold 4-5 percent stake in proposed bank," Reliance Capital said in its filing with the BSE.

    June 27, 2013 / 08:57 IST

    Moneycontrol Bureau

    Reliance Capital shares surged 5 percent Wednesday after the company announced that it will apply for banking license. The financial firm said it would be a promoter of proposed bank.

    "We will apply for license in partnership with Japan-based Sumitomo Mitsui Trust Bank and Nippon Life, which hold 4-5 percent stake in proposed bank," the company said in its filing with the BSE.

    Also read: Reliance Capital suspends gold sales to curb gold imports

    At 12:17 hours IST, the stock was quoting at Rs 329.80, up 4.98 percent on the Bombay Stock Exchange.

    first published: Jun 26, 2013 12:36 pm

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