Reliance Cap AMC to acquire Goldman Sachs Asset Mgmt Biz

The cash deal reported to be at around Rs. 243 crore is expected to be completed this fiscal.

Reliance Capital AMC has announced that it is planning to acquire Goldman Sachs Onshore Asset Management Biz In India for Rs. 243 crore in cash.

The acquisition is expected to be completed in this fiscal.

The stock is currently trading at Rs. 411.9, up by Rs. 12.7 or 3.18% from its previous closing of Rs. 399.2 on the BSE.

The scrip opened at Rs. 401.5 and has touched a high and low of Rs. 413.2 and Rs. 398.25 respectively. So far 698616(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10085.1 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 550 on 04-Dec-2014 and a 52 week low of Rs. 250.8 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 414.25 and Rs. 394.1 respectively.

The promoters holding in the company stood at 52.64 % while Institutions and Non-Institutions held 27.67 % and 19.45 % respectively.

The stock is currently trading below its 200 DMA.