Reliance Capital said the proposal to separate health business will enhance management focus on this segment. It will provide flexibility to the company to unlock value by bringing in global leaders in this space as strategic and equity partners, it added. Ravi Viswanath has been named the CEO of Reliance Health Insurance Co.
Shares of Reliance Capital on Thursday surged by around nine per cent after the company announced plans to set up a standalone health insurance firm by carving it out from the general insurance entity.
The scrip settled at Rs 603.50 on BSE, up 8.47 per cent from the previous close. In the intra-day trade, the stock had climbed 9.45 per cent to touch the 52-week high of 609. On NSE, it closed 9.07 per cent higher at Rs 607.25. It had touched year-long high of Rs 609.50 during the day.
Following the uptick, the market capitalisation of the company increased by Rs 170.3 crore to Rs 3,653.14 crore.
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