Religare Enterprises jumps 5% as Ashish Kacholia, Mukul Agrawal pick stake

NEW DELHI: Shares of Religare Enterprises gained 5 per cent in Tuesday’s trade after value investors Ashish Kacholia and Mukul Agrawal bought stake in the company.

Kacholia picked up 40 lakh shares while Agrawal bought 26 lakh shares at Rs 44 per share on Monday, bulk deal data on the NSE showed. Axis Bank sold 90 lakh shares of Religare Enterprises, data showed.

Following the development, the scrip hits 5 per cent upper circuit limit at Rs 49.50. This was the successive fourth day of rally for the stock, which has rallied 17 per cent year-to-date compared with 1.95 per cent rise in the BSE Sensex.


Religare Enterprises is a diversified financial services group present across three verticals. It offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance and retail broking.

As a group, the company caters to diverse segments of the market from mass retail to affluent, SMEs to mid-size corporates. Its Subsidiaries service over 1.1 mn. clients from over 1,275 locations having presence in more than 400 cities.

Technical data showed, the scrip is trading above its 5-day, 20-day, 50-day, 100-day and 200-day moving averages.