Reliance Capital shares up nearly 6% as Q3 net profit rises

Shares of financial services major Reliance Capital today climbed nearly 6 per cent after the company reported 28 per cent rise in third quarter net profit.

Reliance Capital's scrip ended the day with a gain of 5.27 per cent at Rs 468.75 on the BSE. During the day, it gained 5.88 per cent to Rs 471.50.

On the NSE, it rose by 5.81 per cent to close at Rs 471.65.

Following the gain in the stock, the company's market value moved up by Rs 576.04 crore to Rs 11,514.04 crore.

Reliance Capital today reported 28 per cent rise in its third quarter net profit at Rs 213 crore on robust growth in insurance and mutual fund businesses.
 

The total income for the quarter ended December 2014 rose 11 per cent to Rs 2,105 crore.

The company said the shareholders have approved allotment of 2.8 per cent stake in Reliance Capital to Sumitomo Mitsui Trust Bank and the deal is expected to be closed by next month.

The company's mutual fund arm Reliance Capital Asset Management Company saw its average AUM rise 23 per cent to Rs 1.26 lakh crore, while profit in this business rose 49 per cent.