Reliance Capital surges on talks of stake sale

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Reliance Capital surges on talks of stake sale
Reliance Capital: Quotes, News
BSE 783.35BSE Quote0.3 (0.04%)
NSE 783.55NSE Quote0.3 (0.04%)
Shares of Reliance Capital surged today after reports that the company is in talks to sell 26 percent stake in general insurance arm.

Shares of the company were trading higher by 2% at Rs 383 on the Bombay Stock Exchange.

"We are in talks for sale of 26 per cent stake in general insurance business to a foreign strategic partner," Reliance Capital CEO Sam Ghosh reportedly said in an interview.

Reliance Capital, is the financial services arm of Anil Dhirubhai Amban Group and has already sold 26 per cent stake in each of its mutual funds and life insurance units to Japanese financial services major Nippon Life.

Read more about: reliance capital
Story first published: Tuesday, November 20, 2012, 10:44 [IST]
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