After plummeting below its IPO listing price last year and falling out of investors’ radar post SEBI’s regulatory changes, the stock of Reliance Nippon Life Asset Management, is back in the limelight. The stock skyrocketed 30 per cent over the past two days, after Reliance Capital invited JV partner Nippon Life Insurance to acquire its 42.88 per cent stake in Reliance Nippon Life AMC. The reason? Expectations of the deal happening at a much higher valuation than the current market price of Reliance AMC, as the JV partner is set to acquire controlling stake in the AMC.
