Nippon Life Insurance Co, Japan’s largest life insurer, is reportedly in talks to buy about a 26% stake in Reliance Life. The move comes on the back of boosting overseas business.
According to reports, Nippon Life Insurance Co is likely to invest about 60bn Yen in Reliance Life or about 26% stake.
The shares of Reliance Capital were up smartly yesterday in a weak market. Today, the scrip is trading higher at Rs. 530, up Rs. 3.5 or 0.6% over the previous close.
It had earlier touched a day's high of Rs. 535 and a day's low of Rs. 521. It opened at Rs. 524.
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