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Reliance Nippon rises, Reliance Capital slides after clarification

Capital Market 

Shares of Reliance Capital was down 4.13% to Rs 33.65, while shares of Reliance Nippon Life Asset Management Company was up 2.04% to Rs 238.

Reliance Capital clarified to the stock exchanges after market hours yesterday, 18 September 2019, that no pledged shares of Reliance Nippon Life Asset Management (RNAM) have been invoked by any lender.

Further, borrowings covered under the pledged RNAM shares are matched by cash amounting to approximately Rs 1600 crore lying in escrow under tripartite agreements signed between the parties.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 19 2019. 11:53 IST