Religare did not disclose the exact reasons for the sale, but sources said it could be due to promoters wanting to monetise some assets to meet other financial obligations. (Express Photo)
Religare Enterprises shares were trading over 3 per cent down on Thursday after the financial services group entered into a definitive agreement with Invesco to increase latter’s shareholding to 100 per cent in the India asset management joint venture, Religare Invesco Asset Management Company (RIAMC). The transaction is subject to customary Indian regulatory approvals.
At 2.51 pm, the share price of the company was trading 3.03 per cent down at Rs 268.75 on BSE. The stocks touched the high and low of 280.85 and low of 268.75, respectively. Sensex was trading 314.79 points up at 25,797.31.
Religare did not disclose the exact reasons for the sale, but sources said it could be due to promoters wanting to monetise some assets to meet other financial obligations.
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