Reliance Capital scrip surges 7% on BSE

MUMBAI: The Anil Dhirubhai Ambani Group's financial services arm Reliance Capital's scrip on Thursday surged over 7 per cent to touch an all-time-high of Rs764.90 on the Bombay Stock Exchange.

The scrip of the company touched Rs764.90, its 52-week high, up 7.27 per cent over its previous close of Rs713.

The company's Board of Directors have approved the payment of a dividend of Rs3.50 per share on equity shares with face value of Rs10 each for the financial year ended March 31.

The shares of Reliance Capital opened firm at Rs725 and then steadily moved ahead to touch a high of Rs764.90. The firm has gained as much as 15 per cent in just a months time. On April 3, the scrip was trading at Rs617.55.

The stock market opened on a strong note on Thursday with the BSE benchmark, Sensex rising by over 200 points and the wide-based National Stock Exchange, Nifty gaining 60 points on funds buying, triggered by firming global markets.

The shares of the company were trading at Rs754.20, up 5.78 per cent and over 7.18 lakh shares were traded on the BSE.

On April 23, Reliance Capital reported a 20 per cent rise in its full-year net profit to Rs646 crore on the back of robust growth in its insurance and mutual fund businesses.