Similarly, you may ask, is it safe to buy Reliance Capital share?
Reliance Capital shares would be really worth buying it right now. It is an asset management company. They have invited Nippon to acquire 42% of its stake. The stock seems to available at fairly good evaluation P/E of 4.33 as against Industry P/E of 39 or so.
Beside above, why is Reliance Capital share going down? Reliance Capital shares fall 3% after defaulting on interest payments to HDFC, Axis Bank. Reliance Capital has defaulted on interest payments on loans worth Rs 624 crore drawn from Housing Development Finance Corporation and Axis Bank, the company informed stock exchanges.
Secondly, is it good to buy Reliance shares now?
The stock has made a very strong breakout. It is trading very close to its swing high levels on short-term as well as on longer-term charts. It looks attractive for a longer term target of Rs 280. A stop loss could be kept at Rs 195.
What happened Reliance Capital?
In September 2019, it sold 21.54% stake in Reliance Nippon Life Asset Management to Nippon Life Insurance Company alongside completely exiting its entire stake in wholly owned subsidiaries Reliance Capital Trustee Co and Reliance Capital AIF Trustee Company.