Aditya Birla Nuvo Shares rallied over 6 according to cent on Tuesday after the business enterpriseannounced the formation of a step-down subsidiary for entering into Medical insurance business.
Aditya Birla Nuvo is part of the Aditya Birla Group.
The new enterprise referred to as Aditya Birla Well-being Non-public Ltd has been incorporated underAditya Birla Nuvo’s subsidiary Aditya Birla Financial Offerings to start Medical health insurance andassociated business in India.
Aditya Birla Financial Services is a a hundred per cent subsidiary of Aditya Birla Nuvo.
South African Monetary Offerings Institution MMI Holdings will hold 49 in keeping with cent stake Aditya Birla Well-being Non-public at the same time as the closing 51 per cent stake can be with Aditya BirlaEconomic Offerings.
Aditya Birla Nuvo Shares closed 3.forty seven in line with cent higher at Rs 1,164 compared to 0.41 percent benefit in the broader Nifty.
Story first published on: June 28, 2016 12:00 (IST)
Tags: Aditya Birla Nuvo, Aditya Birla Nuvo Stocks, Medical insurance, MMI Holdings