Religare Enterprises hits record low

The stock hit a record low of Rs 149, down 6%, extending its 9% decline in past three trading days.

Religare Enterprises hit a record low of Rs 149, down 6%, extending its 9% decline of the past three trading sessions, after the company reported weak results for the financial year 2016-17 (FY17).

The financial services firm reported a standalone net loss of Rs 159 crore in FY17 against a net profit of Rs 84 crore in the previous year, as revenue fell sharply to Rs 35 crore from Rs 125 crore.

The company has sold several arms such as asset management, capital markets and health insurance in the past year. Its NBFC arm is also in the