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5 per cent lower circuit, at Rs 18.10 apiece, on the Bombay Stock Exchange (BSE) after the Reserve Bank of India (RBI) superseded the board of industrialist Anil Ambani promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues.
- Stocks Under F&O Ban: Aditya Birla Fashion, Hindustan Copper, and Others
- Stocks in Focus: Tech Mahindra, Rail Vikas Nigam, Axis Bank, Reliance Industries, Others
- United Breweries Shares Hit 10% Upper Circuit on Stellar Q4 Update
- PhonePe Indus Appstore Launched Voice Search Feature For Ten Indic Languages
- Hindustan Unilever Announced a 6% YoY Decline in Net Profit; Declared Interim Dividend
“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creditors and serious governance concerns which the board has not been able to address effectively”, the central bank superseded the board.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