"The entire Reliance Nippon Life Asset Management stake monetization proceeds of around Rs 6,000 crore to be received from the Offer for Sale and the already announced transaction with Nippon Life Insurance Company of Japan will be utilised to reduce Reliance Capital’s outstanding debt," company said.
Shares of Time Technoplast surged more than 7 percent on May 28 after the company reported strong earnings for the quarter ended March 2019.
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