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Reliance Capital shares soar 9.72% on Nippon stake buy

The company's stock closed at Rs 561.80, 9.72 per cent higher than it's previous close of Rs 512.05. The BSE benchmark Sensex closed with a high of 265.39 points.

ITGD Bureau   Mumbai     Last Updated: March 14, 2011  | 16:40 IST

Reliance Capital shares extended gains to 9.72 per cent on Monday after the firm said Japan's Nippon Life Insurance was buying a 26 per cent stake in its life insurance unit (Reliance Life Insurance) for $680 million.

The stock closed at Rs 561.80, 9.72 per cent higher than it's previous close of Rs 512.05. Meanwhile, the Bombay Stock Exchange benchmark Sensex closed with a high of 265.39 points, or 1.46 per cent, at 18,439.48.

The Nippon Life deal values Reliance Life at $2.6 billion, a statement from the parent company said.

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