Reliance Capital Will Exit Its Entire Stake In Reliance Nippon To Nippon Life

Reliance Capital will exit its entire stake in Reliance Nippon to Nippon Life. Nippon Life will make mandatory open offer at Rs 230 per share for Reliance Nippon stake.

PSU banks are prominent gainers on May 23 when the counting of votes for Lok Sabha elections indicated that BJP is set to form government again.

Hence, market experts believe that Monetary Policy Committee may cut repo rate in forthcoming policy meeting scheduled on June 3-6, which is the key reason for the rally in PSU banks.

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