Shares up 3%

Shares of Reliance Capital on Wednesday surged over 3 per cent after the company announced the acquisition of global giant Goldman Sachs’ mutual fund business in India for Rs 243 crore in an all-cash deal. The scrip of the company rose 4.40 per cent to touch its intra-day high at Rs 416.80. The stock ended the day at Rs 411.85, up 3.17 per cent on BSE. On NSE, the company’s shares surged 4.49 per cent to touch its intra-day high of Rs 416.90. After loosing some initial gains, the stock ended the day at Rs 411.90, up 3.24 per cent. Under the deal RCAM will acquire all 12 onshore mutual fund (MF) schemes of Goldman Sachs.