Published on 13/09/2017 3:33:13 PM | Source: Dion Global Solutions Ltd

Religare Enterprises extends rally; scrip hits roof

Posted in Stock On The Move| #NBFC #Stock On The Move #Religare Enterprises Ltd.

Shares of Religare Enterprises continued gaining momentum for the fourth straight session on Wednesday and locked in upper circuit on the Bombay Stock Exchange after the company’s shareholder approved a proposal to use the proceeds of the sale of its health insurance business to repay Axis Rs 450 crore loan.

Extending previous session rally, shares of the company gained as much as 4.94 per cent and locked in upper circuit at Rs 46.70 apiece on the Bombay Stock Exchange. In a similar fashion, shares of the company were trading 4.98 per cent higher at Rs 46.40 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,260.06, up 101.40 points, or 0.32 per cent, at 12:20 hours.