Religare Enterprises up 5% as it exits from asset management joint venture

Shares of Religare Enterprises on Friday surged over 5 per cent after the company said it has fully exited from its asset management joint venture entity.

The stock hit an intraday high of Rs 294.90, up 5.62 per cent on the Bombay Stock Exchange (BSE). The scrip ended flat.

"Religare Enterprises has now informed BSE that Religare Enterprises Limited (Religare) has completed its exit from its asset management joint venture, Religare Invesco Asset Management Company Private Limited and Religare Invesco Trustee Company Private Limited," said Religare Ent in a filing to BSE.

The transaction was closed on April 7, 2016, it added.