Short Term Buy Call For Reliance Capital

Technical analyst D Prasad has maintained 'buy' rating on Reliance Capital Limited stock with a short term target of Rs 572.

Mr. Prasad said that the interested investors can buy the stock with a stop loss Rs 499.

On June 02, the stock of the company closed at Rs 511.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 881.90 and a low of Rs 428 on BSE.

Current EPS & P/E ratio stood at 14.56 and 37.21 respectively.

Anil Ambani group's financial services division Reliance Capital will appoint more than 3,500 managers for its different businesses in 2011.

In addition, Reliance Capital has also decided to rope in 50,000 insurance agents in 2011-12

Reliance Capital CEO Sam Ghosh said that the large-scale hiring plans comes on account of the company seeing a decline of 4,550 individuals from its staff in its insurance, mutual fund and other businesses in the financial year ended March 2011.

During the existing financial year, Reliance Capital has decided to raise its headcount to about 21,000 people in 2011-12.

Reliance Capital Trustee Company, an arm of Anil Dhirubhai Group's Reliance Capital Ltd, lifted up its equity stake in power infrastructure builder KEC International Ltd to 5.10%.

As per reports, Reliance Capital Trustee Company got hold of 8.80 lakh equity shares of KEC International for more than Rs 6.86 crore. .

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