Reliance Capital buys HBL Power's shares worth Rs 30.3 cr

MUMBAI: Anil Dhiru Bhai Ambani Group firm Reliance Capital has bought 17.41 lakh equity shares of battery maker HBL Power Systems for over Rs 30.31 crore.

According to bulk deal data available on the Bombay Stock Exchnage, Reliance Capital purchased 17,41,000 equity shares of HBL Power at Rs 174.13 each from Abhishek Sonata.

Reliance Capital is engaged in asset management and mutual funds, life and general insurance, private equity and investments and stock broking among others.

HBL Power Systems, formerly HBL Nife Power Systems, is engaged in manufacturing of nickel batteries. The company operates in two segments - battery and electronics.

Shares of Andhra Pradesh-based HBL Power today shot up nearly 20 per cent at Rs 174.20 at the close of trading on the BSE. The tading opened in the stock at Rs 148 in the morning.

Meanwhile, shares of Reliance Capital closed at Rs 582.20, down 3.14 per cent from the previous close on the BSE.