Elpro International’s stock surged over 2% following its recent strategic investment in Religare Enterprises Limited. The company acquired 5,00,999 fresh equity shares of Religare for ₹12.60 crores, bringing its total holding to 14,16,004 shares. This move highlights Elpro’s confidence in the financial services sector and its long-term growth potential.
Religare Enterprises is a well-established financial services group in India, operating across multiple verticals, including SME loans, affordable housing finance, health insurance, and capital markets. The company reported a strong consolidated revenue of ₹6,299.26 crores for FY 2023-24, reflecting steady growth and resilience in the market.
Elpro International shares opened at Rs 70.88, fluctuating between a high of Rs 71.35 and a low of Rs 69.80 during the trading session. Over the past year, the stock has seen significant volatility, reaching a 52-week high of Rs 147.70 and a low of Rs 62.30.
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