The announcement was made during trading hours today, 26 June 2013.
On BSE, 7.97 lakh shares were traded in the counter as against an average daily volume of 11.18 lakh shares in the past one quarter.
The stock hit a high of Rs 332.40 and a low of Rs 320.30 so far during the day. The stock had hit a 52-week high of Rs 508 on 7 January 2013. The stock had hit a 52-week low of Rs 297.05 on 26 March 2013.
The stock had underperformed the market over the past one month till 25 June 2013, sliding 7.64% compared with the Sensex's 5.46% fall. The scrip had, however, outperformed the market in past one quarter, rising 1.72% as against Sensex's 0.28% fall.
The large-cap company has equity capital of Rs 245.63 crore. Face value per share is Rs 10.
Reliance Capital announced that it will submit an application for a banking license with the Reserve Bank of India (RBI). Reliance Capital will be the promoter of the proposed new bank.
The company said Sumitomo Mitsui Trust Bank and Nippon Life Insurance, two leading financial institutions from Japan, propose to take between 4-5% stake each in the proposed new bank, subject to necessary regulatory approvals, etc.
The agreements were signed by Sam Ghosh, CEO, Reliance Capital; Kuniyuki Shudo, General Manager, Global Business Planning and Coordination Department, Sumitomo Mitsui Trust Bank; and Hiroyuki Nishi, Director & Executive Officer, General Manager of International Planning and Operations Department, Nippon Life Insurance.
Sumitomo Mitsui Trust Bank is a preeminent trust banking group in Japan. Nippon Life Insurance is Japan's largest private life insurer with revenues of Rs 429953 crore and profits of over Rs 12765 crore.
Reliance Capital's consolidated net profit fell 19.5% to Rs 265 crore on 13.8% decline in total income to Rs 1691 crore in Q4 March 2013 over Q4 March 2012.
Reliance Capital, a part of the Reliance Group, is one of India's leading private sector financial services companies.
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