Live
- Sudanese army recaptures capital of Sinnar State in central Sudan
- Kishkindha Kaandam Review: Some movies prove not to compromise in having a good cinematic experience and this is one of them
- Son-rise: Hemant Soren grows taller as tribal leader, makes father proud
- ISL 2024-25: 10-man NorthEast United FC hold on to take three points vs Punjab FC
- BGT 2024-25: Jaiswal’s application, commitment to form a partnership was so impressive, says Gilchrist
- BGT 2024-25: Personally, I am very happy with my performance, says Harshit Rana
- Pakistan's Lahore remains world's most polluted city despite light drizzle
- Asha Nautiyal retains Kedarnath for BJP, to be back as MLA after 12 years
- India leads world in science, innovation research: Minister
- Flash flood in Indonesia's South Tapanuli claims two lives
Religare shares surge 10 per cent on stake sale in subsidiary
On BSE, the shares hit the upper circuit limit of Rs 42.95, surging 9.99 per cent over its previous close of Rs 39.05.
NEW DELHI: Shares of Religare Enterprises on Thursday surged nearly 10 per cent to hit the upper circuit limit a day after the company announced divestment of stake in its subsidiary to TCG Advisory Services.
In a regulatory filing, Religare Enterprises on Wednesday said it "has entered into a binding term sheet with TCG Advisory Services, Religare Finvest (RFL) and Religare Housing Development Finance Corporation, whereby the company will divest its entire stake in RFL, a subsidiary of the company, to TCG Advisory Services or any of its affiliates."
On BSE, the shares hit the upper circuit limit of Rs 42.95, surging 9.99 per cent over its previous close of Rs 39.05. Similarly, on NSE, the scrip rose 9.96 per cent to Rs 43.05.
The filing further said that pursuant to the acquisition, TCG Advisory Services would also acquire the indirect interest of the company in Religare Housing Development Finance Corporation, which is a subsidiary of RFL.
