Anil Ambani group firms Reliance Capital and Reliance Energy on Monday surged 16 per cent and 14 per cent respectively in intra-day trade to their all-time highs with both counters witnessing strong trading volumes.
Reliance Capital shares jumped to a record of Rs 1850.95, adding Rs 266 in a day on the BSE. This took the company’s market capitalisation to Rs 44,426.38 crore or over $11 billion. The scrip finally settled at Rs 1,808.65, up 14.15 per cent on the BSE. A total of 28.22 lakh equity shares changed hands at the bourse.
The scrip gained momentum amid the firm targeting disbursals of about Rs 6,000 crore ($1.5 billion) in its consumer loan business by year-end. Investment bank DSP Merrill Lynch said in a research note to institutional clients that the company’s consumer finance foray was gathering momentum.
