Religare Stock Soars to New High After RBI Nod

Religare Enterprises’ stock surged over 9%, reaching a 52-week high, following the Reserve Bank of India’s approval for the Burman family’s open offer to acquire an additional 26% stake in the company. This move boosts the Burman family’s ownership, potentially giving them majority control. The RBI’s approval comes with conditions, including maintaining the current management structure. Investors responded positively, reflecting confidence in the company’s future under the new ownership plan.