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Business Standard
21-05-2025
- Business
- Business Standard
Religare Enterprises climbs 7% in trade; here's what is behind surge
Religare Enterprises share price jumped 6.6 per cent in trade on Wednesday, logging an intraday high at ₹234 per share on BSE. The northward movement in the stock came after the company posted Q4 results. At 12:45 PM, Religare Enterprises shares were up 4.28 per cent at ₹228.85 per share on the BSE. In comparison, the BSE Sensex was up 0.41 per cent at 81,523. The market capitalisation of the company stood at ₹7,567.01 crore. The 52-week high of the stock was at ₹319.9 per share and the 52-week low of the stock was at ₹201 per share. Catch Stock Market Latest Updates Today LIVE Religare Enterprises Q4 results 2025 The company announced its fourth quarter (Q4FY25) results on May 20, 2025, after market hours. The company's consolidated net profit after tax (PAT) stood at ₹151.3 crore as compared to ₹181 crore a year ago, down 17 per cent year-on-year (Y-o-Y). However, sequentially, the company swung from loss of ₹36.28 crore in Q3. Its revenue from operations increased 9.3 per cent Y-o-Y to ₹2,028.4 crore for Q4 against ₹1,855.68 crore a year ago. In Q3, the revenue stood at ₹1,664.4 crore. ALSO READ | Why did Ircon International share price rise 3% on Wednesday, May 21? Burman family takeover In February 2025, the Burman family acquired control of Delhi based financial services firm, Religare Enterprises and were designated as its promoters after almost 18 month of a takeover battle. "We are grateful to our regulators, shareholders and other stakeholders for their trust and confidence," the Burman family said in a statement. The Burman Group will work with REL's leadership and board to reinforce its strategic direction and enhance long-term value creation. The takeover battle for Religare began in September 2023 when the Burmans of Dabur group, having reached a 25 percent stake in the company, made an open offer to acquire an additional 26 percent. However, the senior management, led by chairperson Rashmi Saluja, opposed the offer, contending that the price of ₹235 per share undervalued the company. In a communication to the regulators, the then-board also raised questions about whether the Burmans meet the "fit and proper" criteria of the regulators. The Burman family said they are successfully operating insurance firms and an NBFC and hence meet all the criteria.
Reuters
21-02-2025
- Business
- Reuters
India's benchmarks set to open lower
Feb 21 (Reuters) - India's benchmark indexes are likely to open lower on Friday, adding to the declines seen so far this month, as nervousness around reciprocal U.S. tariffs and persistent foreign selling continued to dent risk sentiment. The GIFT Nifty futures were trading at 22,863 as of 08:20 a.m. IST, indicating that blue-chip Nifty 50 (.NSEI), opens new tab will open below Thursday's closing level of 22,913.15. Most Asian markets were down on the day, tracking overnight losses on Wall Street. There is an absence of a clear trend, reflecting uncertainty in the Indian markets, with attempts by bulls to absorb dips failing to sustain over the last four sessions, analysts said. Concerns over U.S. trade policy and relentless foreign selling have added to the prevailing risk-off sentiment, they said. Foreign portfolio investors (FPIs) have sold Indian shares worth $11.75 billion so far in 2025, including 33.12 billion rupees ($382.6 million) on Thursday. Both the Nifty and BSE Sensex (.BSESN), opens new tab closed at their lowest since early June on Thursday. They have lost 2.5% and 2.3% so far this month. The benchmarks are trading 12.6% and 12% off their record high levels hit in September. STOCKS TO WATCH ** Cipla ( opens new tab gets final approval from U.S. drug regulator for a blood cancer drug, to be launched in fiscal year 2026 ** Burman Group spokesperson says Burman Group has acquired control of financial services provider Religare Enterprises ( opens new tab ** JP Morgan initiates coverage of JSW Energy at "overweight" ** Citi says earnings in fiscal year 2025 could end "on a ugly note" for India's oil marketing companies, such as Bharat Petroleum Corp ( opens new tab, Hindustan Petroleum Corp ( opens new tab and Indian Oil Corp ( opens new tab
