Nippon Life: Reliance MF stock gains on reports Nippon Life may hike stake - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.NewsStock Analysis, IPO, Mutual Funds, Bonds MoreShares of Reliance Nippon gained as much as 7 per cent intraday on this news.
ET Bureau|Updated: May 18, 2019, 10.08 AM ISTReutersIn February, Reliance Capital had offered to offload its entire 42.88 per cent stake in the insurance joint venture to the Japanese partner.
MUMBAI: Shares of Reliance Nippon Life Asset Management ended up 2.33 per cent at Rs 201.7 on the BSE on Friday amid reports that Nippon Life is likely to acquire additional stake in the company from partner Reliance Capital.Shares of Reliance Nippon gained as much as 7 per cent intraday on this news.
Shares of Reliance Capital ended up 2.18 per cent at Rs 114.95 after rising as much as 8.2 per cent intra-day.As per reports, Nippon Life will acquire a majority of Reliance Capitals 43 per cent stake in the company for 70 billion yen, to increase its stake in Nippon Life Insurance to 70 per cent.In February, Reliance Capital had offered to offload its entire 42.88 per cent stake in the insurance joint venture to the Japanese partner.Till March 2019, both Reliance Capital and Nippon Life Insurance Company held 42.88 per cent each in Reliance Nippon Life Asset Management.680928366809332566688187Reliance Cap invites Nippon Life to buy it out of MF JVNippon Life eyes RCap stake in AMC JV; Reliance Nippon, RCap rally up to 7%Reliance Nippon Life Q2 revenue rises to Rs 411 croreReliance Nippon surges 20% as RCap offers JV partner Nippon Life 42.88% stakeCommenting feature is disabled in your country/region.Browse CompaniesABCDEFGHIJKLMNOPQRSTUVWXYZ|123456789To see your saved stories, click on link hightlighted in bold