Sunday , October 24 2021

Religare Enterprises touches roof on the bourses

Religare Enterprises is currently trading at its upper circuit limit of Rs. 40.25, up by 1.90 points or 4.95% from its previous closing of Rs. 38.35 on the BSE.

The scrip opened at Rs. 39.10 and has touched a high and low of Rs. 40.25 and Rs. 39.10 respectively. So far 5894 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 45.05 on 12-Jul-2019 and a 52 week low of Rs. 17.05 on 04-Feb-2019.

Last one week high and low of the scrip stood at Rs. 40.25 and Rs. 33.00 respectively. The current market cap of the company is Rs. 831.98 crore.

The promoters holding in the company stood at 1.04%, while Institutions and Non-Institutions held 32.88% and 66.07% respectively.

Religare Enterprises is offloading its entire stake in NBFC arm Religare Finvest (RFL) to TCG Advisory Services for around Rs 330 crore. The company is divesting its entire stake in RFL for Rs 330 crore. The transaction is subject to receipt of statutory and regulatory approvals and fulfillment of other conditions. It is expected to complete before December 31, 2019.

The company in July 2019 had signed a binding term sheet with TCG Advisory Services to sell its NBFC and housing finance businesses.

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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