In a bid to grow bigger in the portfolio management services (PMS) space, Religare Enterprises has reportedly acquired the PMS business of the N Jayakumar’s Prime group. The move is part of the group’s plan to expand in the portfolio management space.
Earlier, the National Stock Exchange had barred Prime Broking related entities from trading in June 2013. The trades were blocked following an investigation into alleged malpractices by Prime involving the shares of Gitanjali Gems. It had also halted pay-out, or settlement of the trades under investigation.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
Company Name | CMP |
---|---|
Bajaj Finserv | 1655.80 |
Paul Merchants | 1042.95 |
Data Infrastructure | 100.00 |
IIFL Finance | 418.60 |
Embassy Office Parks | 370.30 |
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