Nippon Life Insurance has agreed to increase its stake in Reliance Capital Asset Management from 26% to 49%.
The stock rallied 16% to Rs 199 on back of over four-fold jump in trading volumes.
The Sensex is down 33 points at 28,305 and the Nifty has slipped lower by 12 points to trade at 8,451
Post September quarter results, the stock rallied 25% as compared to 1.6% rise in the benchmark CNX Nifty.
New mechanism aims to cut risks faced by markets due to defaults, will also have 'default waterfall' marks to limit liability of non-defaulting ...