Signals, Powered By EquityPandit
On Tuesday, Reliance Capital Ltd’s shares were locked at the 5 per cent lower circuit, at Rs 18.10 apiece, on the Bombay Stock Exchange (BSE) after the Reserve Bank of India (RBI) superseded the board of industrialist Anil Ambani promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues.
- IIT Bombay Sets Up Rs 100 Crore Venture Capital Fund for Startups
- Tata Power Inks MoU with Asian Development Bank for $4.25 Billion
- Innovators Facade Shares Skyrocketed 11% on Securing Orders Worth Rs 110 Crore
- Stocks in Focus: SJVN, Tata Power, Afcons Infrastructure, and Others
- Stocks Under F&O Ban: Adani Enterprises, Aarti Industries, Indraprastha Gas, and Others
“Given the defaults by RCL (Reliance Capital Ltd) in meeting the various payment obligations to its creditors and serious governance concerns which the board has not been able to address effectively”, the central bank superseded the board.
The Nageswar Rao Y is appointed as former executive director of Bank of Maharashtra, administrator of Reliance Capital.
Stock Covered in the news
