Shares of Reliance Capital ended with over 5 per cent gains on Tuesday after Japan's Nippon life acquired 14 per cent additional stake in fund house Reliance Capital Asset Management Company (RCAM) for Rs1,196 crore, hiking its stake to 49 per cent.
After rising 6.28 per cent to Rs403.30 intra-day on BSE, shares of the company finally ended at Rs398.80, up 5.10 per cent from its previous close.
On NSE, the stock rallied 5.37 per cent to Rs399.20. The company's market valuation rose Rs489 crore to Rs10,075 crore. In terms of volume, 10.40 lakh shares of the company changed hands at BSE and over 58 lakh at NSE during the day.
This pegs the valuation of RCAM, which runs Reliance Mutual Fund and is part of Anil Ambani-led conglomerate Reliance Group's financial services arm Reliance Capital, at Rs8,542 crore, or $1.3 billion.