Reliance Capital surged 1.4% to Rs 632.95 on BSE on a report that Japan's Sumitomo Mitsui Trust Holdings Inc may buy 10% stake in the Anil Ambani-owned company by paying $400 million for new shares.
Reliance Capital, one of India's largest financial services companies, was supposed to be the promoter of the proposed new bank which eventually did not occur as the Reserve Bank of India did not permit it with a licence.
Reliance Capital had earlier planned to sell 4-5% stake each to Sumitomo Mitsui Trust Bank, owned by Sumitomo Mitsui Trust Holdings, and Nippon Life Insurance in a subsidiary company that had applied for a banking licence.
The stock opened at Rs 635.40, touched a high of Rs 640 and a low of Rs 630.45 on the BSE thus far. A total of438,386 shares were traded on the BSE so far.
