Religare Enterprises surges 10% on stake sale in subsidiary to TCG Advisory

Between July 5 and today, the stock has rallied 51% from a level of Rs 28.50 apiece. In comparison, the S&P BSE Sensex has lost 2% during the same period

Shares of Religare Enterprises were locked in the 10 per cent upper circuit at Rs 42.95 per share on the BSE on Thursday after the company announced its plan to sell Religare Finvest to TCG advisory for an undisclosed amount.

Between July 5 and today, the stock has rallied 51 per cent from a level of Rs 28.50 apiece. In comparison, the S&P BSE Sensex has lost 2 per cent during the same period.

The trading volumes on the counter nearly doubled with a combined 5,51,284 shares changing hands till 09:23 am. There were pending buy orders for 2,13,309 shares