Reliance Capital share price dips 5% on interest payment delay

reliance capital

Reliance Capital share price dropped to 52-week low of Rs 10.90, falling nearly 5 percent in the morning trade on December 11 after a delay in payment on on interest / principal obligations due on December 9.

At 0953 hours, Reliance Capital was quoting at Rs 11.05, down Rs 0.40, or 3.49 percent, on the BSE.

On December 10, the board in a meeting approved the elevation of chief financial officer (CFO) Amit Bapna as the president and chief operating officer.

The board also appointed Sachin Bora as the chief executive officer and Vaibhav Kabra the CFO.

Anmol Ambani, being related to the company chairperson, ceased to be the executive director, with effect from December 10.
He, however, continues to be on the board of Reliance General Insurance Company Limited, a wholly owned subsidiary of the company.

News Source: moneyconytrol

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