Aditya Birla Capital share price jumps 4% as board approves subsidiary IPO

Stocks

The share price rose 150 percent in last 9 months.

At 09:29 hrs, Aditya Birla Capital was quoting at Rs 133.00, up Rs 4.65, or 3.62 percent on the BSE.

At 09:29 hrs, Aditya Birla Capital was quoting at Rs 133.00, up Rs 4.65, or 3.62 percent on the BSE.

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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Aditya Birla Capital share price added more than 4 percent in the early trade on March 17 as company board gives approval to explore initial public offering of its subsidiary.

The board of directors of Aditya Birla Capital has provided the in principle approval to explore an initial public offering of Aditya Birla Sun Life AMC Limited, a material subsidiary of the company subject to market conditions, receipt of applicable approvals and other considerations.

Also Read: SEBI streamlines IPO process

An Initial Public Offer (IPO) is a means of collecting money from the public by a company for the first time in the market to fund its projects.

In return, the company gives the share to the investors in the company.

At 09:29 hrs, Aditya Birla Capital was quoting at Rs 133.00, up Rs 4.65, or 3.62 percent on the BSE.

The share touched its 52-week high Rs 139.60 and 52-week low Rs 37.45 on 09 March, 2021 and 24 March, 2020, respectively.

Currently, it is trading 4.73 percent below its 52-week high and 255.14 percent above its 52-week low.

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The share price rose 150 percent in last nine months.

Aditya Birla Financial Services Group (ABFSG) is an umbrella brand for all the financial service businesses of the Aditya Birla Group. They have a significant presence across life insurance, asset management, NBFC, infrastructure project and structured finance, private equity, broking, wealth management and distribution, online money management, and general insurance advisory services.

The company’s trailing 12-month (TTM) EPS was at Rs 0.26 per share. (Dec, 2020). The stock’s price-to-earnings (P/E) ratio was 511.15.

The latest book value of the company is Rs 38.45 per share. At current value, the price-to-book value of the company was 3.46.