Religare shares wobble on uncertainty over results

Promoter entities report pledge of additional shares in early May

Shares of Religare Enterprises have underperformed in recent weeks amid uncertainty over its audited financial results. 

The financial services company, which has sought shareholder's approval for the sale of its health insurance business through postal ballot, postponed the board meeting scheduled earlier this week to approve the audited financial results. 

In regulatory filings, it has not assigned any reasons nor has it given the new schedule for the results. It said the meeting was postponed “until further notice.” 

When contacted on Wednesday, the day on which the meeting was originally scheduled, a Religare spokesperson said, “The finalisation and consolidation of