Religare Enterprises gains after completing exit from its asset management JV

On BSE, so far 1,227 shares were traded compared with an average volume of 8,544 shares in the past one quarter

Religare Enterprises has surged over 4% to Rs 291 on the BSE after the company said that it has completed its exit from its asset management joint venture to Invesco.

On BSE, so far 1,227 shares were traded in the counter, compared with an average volume of 8,544 shares in the past one quarter.

Religare Enterprises announced that it has completed its exit from its asset management joint venture, Religare Invesco Asset Management Company (RIAMC) and Religare Invesco Trustee Company (RITC). It sold its 51% stake in the joint venture to the joint venture partner Invesco, which will now hold 100% in RIAMC.

Invesco is a leading independent global investment management firm. The transaction is closed on 7 April 2016, following the receipt of all required regulatory approvals.