Religare, Edelweiss shares fall up to 2%

Shares of Religare Enterprises and Edelweiss Financial Services fell by up to 2 per cent today following termination of a deal.

Religare's scrip declined 1.81 per cent to end at Rs 57.05 on BSE. During the day, it lost 4.47 per cent to Rs 55.50.

Shares of Edelweiss also fell 1.57 per cent to close at Rs 265.60. Intra-day, it dipped 2.42 per cent to Rs 263.30.

Edelweiss Group today said it is no longer interested in the acquisition of Religare Enterprises' securities business citing the seller's inability to obtain clearances.

"We hereby inform you that due to the seller's inability to obtain the requisite clearances within the agreed timeline, the binding arrangement has come to an end on March 15, 2018," Edelweiss said in a regulatory filing.

Edelweiss Group's wealth management unit had in December said it would acquire the Religare Securities business. Financial details were however not disclosed.