Reliance Cap at new low on insurance FDI roadblock

BSE 24 May 12 | 12:00 AM

317.95		8.15 (2.63%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500111

Face Value: N.A.

NSE 24 May 12 | 12:00 AM

317.95		8 (2.58%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: RELCAPITAL

Performance
1 Week	:	Rs	291.65	(9.02%)
1 Month	:	Rs	326.95	(-2.75%)
1 Year	:	Rs	494.35	(-35.68%)

Reliance Cap at new low on insurance FDI roadblock

SI Reporter / Mumbai 14 Dec 11 | 01:06 PM

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Reliance Capital is trading lower by 3% to Rs 273 after a parliamentary standing committee rejected the proposal to allow 49% foreign direct investment (FDI) in insurance, against the 26% FDI currently allowed in the sector.

Reliance Capital, controlled by billionaire Anil Ambani, manages assets of over $19 billion across mutual funds, pension funds, managed accounts and hedge funds. Its other businesses include insurance, broking, consumer and commercial finance.

The stock opened at Rs 283 and hit a low of Rs 272 on the National Stock Exchange (NSE). A combined 1.7 million shares have changed hands on the counter so far on the NSE and BSE.