Reliance Capital’s plan to acquire stake in Quant Capital puts the stock in green
Reliance Capital is currently trading at Rs 831.10,up by 4.30 points or 0.52% from its previous closing of Rs 826.80 on the BSE.
The scrip opened at Rs 802 and has touched a high of Rs 838.45 with a low of Rs 730. So far 1413067 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 1066 on June 5, 2009 and a 52 week low of Rs 274.20 on March 9,2009.
The scrip price has witnessed a correction of 4.06% since last week and an upswing of 4.89% since last month.
Reliance Capital proposes to take a majority equity stake in Mumbai-based Quant Capital Group. The existing management team at Quant Capital will continue to be responsible for its operation.
Reliance Equity International (a wholly owned subsidiary of Reliance Capital) and Quant Capital will integrate operations to achieve full benefits of business synergies, cost optimization and increased scale of operations.
Reliance Capital, part of the Anil Dhirubhai Ambani Group (ADAG), has interests in asset management and mutual funds; life and general insurance: private equity and proprietary investments.
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Category: Stock-News
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