Shares of Religare Enterprises jumped over 5 per cent on the Bombay Stock Exchange after the company said that it has entered in to definitive agreements with a consortium of investors led by True North Managers, an India based private equity Fund, to divest its entire stake in Religare Health Insurance Company Limited (RHI).
Following the announcement, shares of firm gained as much as 5.33 per cent to hit intra-day high of Rs 230.00 apiece on the Bombay Stock Exchange.
In a similar fashion, stocks of company rose 1.39 per cent to Rs 222.40 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 29,713.16, up 6.55 points or 0.02 per cent, at 11:58 hours.