Reliance Nippon up by 5 per cent

Gayathri Udyawar
/ Categories: Trending, DSIJ News
Reliance Nippon up by 5 per cent

The stock of Reliance Nippon Life was buzzing on the bourses on Thursday following a clarification by the company regarding spike in traded volumes. Reliance Nippon Life was among top gainers in an otherwise southwards heading market.

Nippon Life Insurance's stake in Reliance Nippon Life Asset Management (RNAM) has increased to 54 per cent, post the Open Offer to acquire the public shares of the company at Rs. 230 per share. Further on, Reliance Capital Limited (RCL) will exit the company and Nippon will increase its stake to 75 per cent. The clarification stated that all the company has made all the necessary disclosures and that RCL was entitled to sell 10.76 per cent holding in the company to abide by SEBI guidelines on minimum public shareholding (MPS).

RNAM is one of India's largest asset manager with an AUM of Rs. 4.31 trillion, as of June 2019. For Q1FY20, the company reported consolidated revenue of Rs. 3,251 million as compared to Rs. 3,945 million in Q1FY19, a decrease of 17.59 per cent YoY, as per Ind-AS standard. PAT for the quarter was at Rs. 1,254 million as compared to Rs. 1,111 million, an increase of 12.87 per cent YoY.

On Thursday, at 11:46 hours, the stock of Reliance Nippon Life was quoting Rs. 243.75 per share, up by Rs. 10.60 or 4.55 per cent on BSE. The stock hit an intraday high of Rs. 244.80 during intraday trade and was among the top gainers of the day.

Rate this article:

Leave a comment

Add comment


Mkt Commentary22-Sep, 2023

Mindshare23-Sep, 2023

Bonus and Spilt Shares23-Sep, 2023

Penny Stocks23-Sep, 2023

Bonus and Spilt Shares23-Sep, 2023


General23-Sep, 2023

General23-Sep, 2023

General23-Sep, 2023


Investment in securities market are subject to market risks.Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.