Trending stocks: Religare Enterprises shares gain nearly 5%

NEW DELHI: Shares of Religare Enterprises Ltd. traded 4.85 per cent up in Thursday's trade at 11:36AM (IST). Around 3,451 shares changed hands on the counter.

The scrip opened at Rs 29.2 and touched an intraday high and low of Rs 29.2 and Rs 29.2, respectively, in the session so far. The stock of Religare Enterprises Ltd. quoted a 52-week high of Rs 60.6 and a 52-week low of Rs 17.2.

Total market cap of the Religare Enterprises Ltd. stood at Rs 753.73 crore at the time of writing this report.

The company said it has raised Rs 300 crore by divesting stake in group firm Religare Health Insurance Company Ltd (RHICL) to Kedaara Capital. Consequent to the capital raising, the company said it has retired previous loan and has become completely external debt free.

Key Financials
The company reported consolidated sales of Rs 187.98 crore for the quarter ended 31-Dec-2019, down 14.32 per cent from previous quarter's Rs 219.4 crore and down 87.46 per cent from the year-ago quarter's Rs 1498.44 crore.

The net loss for latest quarter stood at Rs 232.7242 crore, down 31.51 per cent from the same quarter a year ago.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of -0.86 and a price-to-book ratio of 0.66. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Religare Enterprises Ltd. belongs to the NBFC - Diversified industry.