Aditya Birla Capital rises on joining race to pick up 51% stake in Reliance Nippon Life Insurance

Aditya Birla Capital is currently trading at Rs. 110.20, up by 0.40 points or 0.36% from its previous closing of Rs. 109.80 on the BSE.

Aditya Birla Capital
Aditya Birla Capital

The scrip opened at Rs. 109.80 and has touched a high and low of Rs. 110.45 and Rs. 108.15 respectively. So far 36955 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 139.10 on 11-Jan-2022 and a 52 week low of Rs. 85.70 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 115.25 and Rs. 108.15 respectively. The current market cap of the company is Rs. 26693.74 crore.

The promoters holding in the company stood at 71.07%, while Institutions and Non-Institutions held 14.49% and 13.74% respectively.

Aditya Birla Capital has joined the race to pick up 51 per cent stake in Reliance Nippon Life Insurance Company, a subsidiary of debt-ridden Reliance Capital which is undergoing insolvency resolution process.

Reliance Nippon Life Insurance was the only subsidiary of Reliance Capital that had not received any bid when the deadline for submission of non-binding bids had ended on August 29. Reliance Capital had received 14 non-binding bids for its multiple businesses. Six companies had submitted bids for the entire company, while the rest of the bidders had submitted offers for its multiple subsidiaries. The last date for submitting the binding bids is October 31, 2022.

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