India's Arihant Capital Markets hits more than 2-yr high on unit sale approval

Arihant Capital Markets

30/08/2024 10:40

** Shares of financial services co Arihant Capital Markets
 ARCM.NS  rise as much as 19.6% to 90.88 rupees, highest level
since May 24, 2022
    ** ARCM says insurance regulator IRDAI approves sale of
entire stake by co in unit Arihant Insurance Broking Services to
Lockton Overseas
    ** ARCM had said in June 21, when the deal was first
announced, that it will get $400,000 for stake sale
    ** Trading vol 5.3x 30-day daily avg
    ** Stock up 13.6% so far in August, on track for fifth
straight monthly gains
    ** Stock up 26.5% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))