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Tuesday, November 20, 2012

Reliance stock prices Analysis november 20 2012

Reliance stock prices Analysis november 20 2012 : Reliance Capital Ltd BSE 0.01 % surged over 2 per cent in early trade on Tuesday after the financial services major has begun talks to sell 26 per cent equity in its general insurance arm to a foreign partner.

"The company is also open to selling further stake in life insurance and mutual fund units," PTI said in a report on Monday. Reliance Capital has already sold 26 per cent stake in each of its mutual funds and life insurance units to Japanese financial services major Nippon Life.

At 09:40 am, Reliance Capital was trading 2.9 per cent higher at Rs 386.75. It has hit a low of Rs 382.20 and a high of Rs 387.95 in trade today.

Nippon holds 26 per cent stake in Reliance Capital Asset Management, which it acquired for about Rs 1,450 crore. Besides, Nippon has also purchased a 26 per cent stake in Reliance Life for over Rs 3,000 crore.

Currently, foreign investment is capped at 26 per cent in the insurance business in India, but there are no such cap in the mutual funds segment. However, the government is considering increasing the foreign investment limit in the insurance sector to 49 per cent For the latest updates PRESS CTR + D or visit Stock Market news Today

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