RELIGARE

March 24 (Reuters) - Religare Enterprises Ltd RELG.NS:

• UNIT GETS TWO ORDERS RAISING AN INCOME-TAX DEMAND OF 1.05 BILLION RUPEES

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** Religare Enterprises RELG.NS climbs 2.4% to 241.11 rupees, after two sessions of losses

** Financial services provider seeks governance review

** Also approaches controlling investor, Burman family, for funds to tide over cash flow gap

** Stock jumped 18% on Feb 21, day after Burman family took control, but has eased gains to about 8% since then

** Year-to-date, stock down ~14%

(Reporting by Manvi Pant in Bengaluru)

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March 17 (Reuters) - Religare Enterprises Ltd RELG.NS:

• BOARD OBSERVES CASH FLOW GAP OVER NEXT FEW MONTHS

• TRILEGAL AND GRANT THORNTON ENGAGED FOR RELIGARE GOVERNANCE REVIEW

• TO APPROACH BURMAN GROUP FOR IMMEDIATE FUNDING SUPPORT

• BOARD RECOMMENDS SHORT TERM INTER CORPORATE LOAN

• COMMISSIONS GOVERNANCE REVIEW OF REL AND ITS UNITS RFL, RHDFCL

Source text: ID:nBSE9hxzP5

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Feb 24 (Reuters) - Elpro International Ltd ELPR.BO:

• ELPRO INTERNATIONAL LTD - ACQUIRES EQUITY SHARES OF RELIGARE ENTERPRISES

• ELPRO INTERNATIONAL - COST OF ACQUISITION OF SHARES OF RELIGARE ENTERPRISES AT 126 MILLION RUPEES

Source text: ID:nBSE379Hsw

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** India's Nifty 50 .NSEI and Sensex .BSESN drop about 0.4% each, eyeing weekly losses of about 0.7% each

** Twelve of the 13 major sectors decline; auto index .NIFTYAUTO drops 2.3%

** Fourteen of the 15 constituents of auto index log losses; Mahindra & Mahindra MAHM.NS sheds 5.5%, while TVS Motor TVS.NS falls 3.4%

** Reports that government may reduce import duty to 15% on electric vehicles from 110% as part of new EV policy weighing on auto stocks

** Citi says heightened competition from global companies such as Tesla will hurt domestic automakers

** Pharma stocks .NIPHARM drop 1.8% on uncertainty over U.S. tariff threats

** High-weight financials .NIFTYFIN drop 0.5%, while banks .NSEBANK slip 0.67%

** The broader, more domestically focussed small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lose 0.1% and 0.7%

** Bucking the trend, L&T Tech LTEH.NS gains 4.5% on a rating upgrade by Macquarie

** Financial services provider Religare Enterprises RELG.NS climbs 6.4% after billionaire Burman family that owns Dabur DABU.NS says it acquired control of the company

(Reporting by Vivek Kumar M and Bharath Rajeswaran in Bengaluru)

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Feb 20 (Reuters) - India's Burman family has acquired control of financial services provider Religare Enterprises RELG.NS, a spokesperson for the billionaire group said on Thursday.

The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, got the central bank's approval to buy more shares of Religare in December.

"Our immediate priority is to instill stability, strengthen governance, and drive sustainable growth at the company," the spokesperson said.

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 14 (Reuters) - Religare Enterprises Ltd RELG.NS:

• INDIA MARKETS REGULATOR: DISPOSES OFF FEB 1, 2025 APPLICATION FILED BY DIGVIJAY LAXHAMSINH GAEKWAD IN MATTER OF RELIGARE ENTERPRISES

• INDIA MARKET REGULATOR: DISPOSES APPLICATION BY DIGVIJAY GAEKWAD SEEKING EXEMPTIONS FROM CERTAIN OPEN OFFER REGULATIONS FOR RELIGARE

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Feb 13 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES LTD - APPOINTS PRAVEEN KUMAR TRIPATHI AS CHAIRPERSON UNTIL JUNE 30, 2025

Source text: ID:nNSE5PSVTM

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Feb 6 (Reuters) - Religare Enterprises Ltd RELG.NS:

• UNIT GETS DEMAND ORDER FOR TAX OF 309.4 MILLION RUPEES, PENALTY OF 309.4 MILLION RUPEES

Source text: ID:nBSE1jdtck

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Feb 3 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES - DANNY GAEKWAD WRITES TO INDIA MARKETS REGULATOR, RBI ON OPEN OFFER FOR CO

• RELIGARE ENTERPRISES - GAEKWAD APPLIES TO REGULATORS SEEKING EXEMPTION FOR COMPETING OPEN OFFER

Source text: ID:nNSE5GQC1y

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By Aditya Kalra

NEW DELHI, Jan 25 (Reuters) - India's Religare Enterprises RELG.NS said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.

The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India DABU.NS, raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.

Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India's rapidly growing financial services sector, but Religare's independent directors flagged this week the offer price of 235 rupees per share was too low.

In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay "Danny" Gaekwad's firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.

A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters' email seeking comment outside of normal U.S. business hours.

Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).

The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani's Jio Financial Services JIOF.NS and family-controlled Bajaj Finance BJFN.NS.

But the Burmans' Religare bid has faced regulatory and legal challenges.

Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans' open offer bid.

Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action - such as an open offer - "shall be subject to the outcome" of the lawsuit.

($1 = 86.2000 Indian rupees)

(Reporting by Aditya Kalra and Siddhi Nayak; Editing by Muralikumar Anantharaman)

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** Shares of Religare Enterprises RELG.NS up 3% at 290 rupees

** Madhya Pradesh High Court on Thursday disposed a case filed by some minority share holders against co, NDTV Profit reported

** Court had earlier stayed Religare's annual general meeting (AGM) and billionaire Burman family's plan to buy more shares in co

** Case disposal paves way for AGM, Burman family's deal

** RELG stock down 7% after Madhya Pradesh High Court stayed co's AGM on Dec. 18

(Reporting by Sethuraman NR in Bengaluru)

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Dec 24 (Reuters) - Religare Enterprises Ltd RELG.NS:

• FINAL FORENSIC REVIEW REPORT ON RELIGARE FINVEST RECEIVED

• REPORT FORWARDED TO RBI AND SEBI FOR ACTION

Source text: ID:nNSE4Swst8

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Dec 18 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES- UNIT GOT SEBI APPROVAL

• RELIGARE ENTERPRISES- APPROVAL IN CONTINUATION WITH APPLICATION FOR SHAREHOLDING CHANGE

Source text: ID:nBSE52hGCM

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Dec 16 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES - CHIL RECEIVES LETTER OF ADVICE AND SHOW CAUSE NOTICE FROM IRDAI

• RELIGARE ENTERPRISES - NOTICE BASED ON IRDAI INSPECTION OF CHIL

Source text: ID:nBSE8lyNnK

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** Religare Enterprises RELG.NS jumps as much as 9.7% to 304.7 rupees, highest since April 2016

** Burman family gets RBI nod to launch open offer for additional 26% stake in Religare, Economics Times reports

** The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, currently holds ~25% stake in RELG

** Religare did not immediately respond to Reuters' request for comment

** Stock set for eighth straight session of gains

** YTD, RELG up 37%; eyes best yearly gain since 2021

(Reporting by Ashna Teresa Britto in Bengaluru)

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Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES SEPT-QUARTER CONSOL NET PROFIT 684.9 MILLION RUPEES

• RELIGARE ENTERPRISES SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 19.52 BILLION RUPEES

• RELIGARE ENTERPRISES - GROUP CFO NITIN AGGARWAL WILL CEASE TO BE ASSOCIATED WITH CO

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** India's Nifty 50 .NSEI and Sensex .BSESN little changed at 26,215.4 and 85,714.17 points, respectively

** The blue chips hit record highs earlier in the session, extending a rally to their seventh straight session

** Indexes on track to log third straight week of gains

** Heavyweight indexes financials .NIFTYFIN, banks .NSEBANK and private banks .NIFPVTBNK drop about 0.5% each, weighing on NSEI

** The banking and financials sectors have performed well in the recent weeks and are seeing drop in shares due to some profit taking at higher levels, said Religare Broking's Ajit Mishra

** Gains on the benchmarks fueled by information technology stocks .NIFTYIT, up 0.8%, after Accenture ACN.N posted better-than-expected quarterly earnings

** IT firms look up to Accenture for cues on demand environment in key market, the U.S.

** Seven of the 13-major sectoral indexes log gains

(Reporting by Manvi Pant in Bengaluru)

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Sept 23 (Reuters) - Religare Enterprises Ltd RELG.NS:

• DELHI HIGH COURT ISSUED NOTICE TO ROC, COMPANY FOR AGM EXTENSION CASE

Source text for Eikon: ID:nNSE8pMPdB

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Sept 19 (Reuters) - Religare Enterprises Ltd RELG.NS:

• HAS BECOME EXTERNAL DEBT FREE

• RE-PAID OUTSTANDING TERM LOAN FOR 1.64 BILLION RUPEES FROM JM FINANCIAL PRODUCTS

Source text for Eikon: ID:nBSEbgnyXx

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** Indian benchmarks NSE Nifty 50 .NSEI and S&P BSE Sensex .BSESN little changed, easing off record high hit in first hour of trade

** Consumer index .NIFTYFMCG drops 1% on profit booking for consecutive second session

** Consumer stocks have risen about 14% since start of July, outperforming Nifty 50's 5.6% gains, helped by expectations of demand uptick and volume growth due to stable monsoon

** Markets likely to pause till expected U.S. rate cut on Wednesday, analysts say

** Coming week will be critical for domestic markets' rally to sustain and if Fed cuts rates by 50 bps, it will spark a major positive reaction in Indian equities, says Ajit Mishra, senior vice president of research at Religare Broking

** Metals .NIFTYMET gain 0.6%, helped by a softer U.S. dollar, which makes the commodity cheaper to holders of other currencies MET/L

** Bajaj Housing Finance BAJO.NS lists at more than double its issue price of 70 rupees; stock last up 134%

(Reporting by Bharath Rajeswaran in Bengaluru)

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Sept 9 (Reuters) - Religare Enterprises Ltd RELG.NS:

• MUMBAI POLICE HAS REGISTERED FIRAGAINST THREE SENIOR OFFICIALS OF CO

• FIR REGISTERED BASED ON COMPLAINT BY ENFORCEMENT DIRECTORATE

• THERE ARE NO ALLEGATIONS AGAINST CO IN MATTER

• ED HAS FILED COMPLAINT AGAINST RASHMI SALUJA, NITIN AGGARWAL, NISHANT SINGHAL

Source text for Eikon: ID:nBSE3rnrfL

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Aug 30 (Reuters) - Religare Enterprises Ltd RELG.NS:

• CLARIFIES ON SEBI NOTICE TO CHAIRPERSON

• SEBI ISSUED SHOW-CAUSE NOTICE TO RASHMI SALUJA

• NOTICE IN RESPECT OF ALLEGED INSIDER TRADING

• THERE IS NO MATERIAL IMPACT ON COMPANY

Source text for Eikon: ID:nBSE9RjdfG

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** Shares of Religare Enterprises Ltd RELG.NS fall 3.7%, on course to snap 5-session rally

** Co says Indian financial crime fighting agency (ED) conducted searches at the premises of its key officials, including chairperson Rashmi Saluja and its CFO, on Aug. 21

** The searches are among latest setback since management tried to block the Burman family, the existing investors, from buying more stake

** Stock down 3.4% since last September, when Burmans announced plans to raise stake

(Reporting by Nandan Mandayam)

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Aug 23 (Reuters) - Religare Enterprises Ltd RELG.NS:

• DIRECTORATE OF ENFORCEMENT OFFICIALS CONDUCTED SEARCHES AT PREMISES OF RASHMI SALUJA

• NO INCRIMINATING DOCUMENTS WAS FOUND, SEIZED DURING ED SEARCH

• ED FROZE ESOP SHARES OF HEALTH INSURANCE UNIT CARE HEALTH INSURANCE

• FROZEN CARE HEALTH INSURANCE SHARES BELONG TO RASHMI SALUJA, OTHER PERSONNEL

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Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES- INSURANCE REGULATOR IMPOSES PENALTY OF 10 MILLION RUPEES

Source text for Eikon: ID:nBSE33rP13

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** Shares of Religare Enterprises RELG.NS up 8.5% to 259.43 rupees, highest since Sept. 2023

** Around 7.3 mln shares of the financial services co changed hands in three block deals in the range of 239 rupees to 260.34 rupees, per LSEG data

** Stock eyes busiest trading session since late-Jan, overall over 18 mln shares traded

** Including session's gains, stock up ~21% YTD

(Reporting by Manvi Pant in Bengaluru)

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June 20 (Reuters) - Religare Enterprises Ltd RELG.NS:

• CLARIFICATION /CONFIRMATION ON NEWS ITEM APPEARING IN MEDIA

• COMPANY IS IN RECEIPT OF INTERIM ORDER CUM SHOW CAUSE NOTICE

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By Devayani Sathyan

BENGALURU, May 23 (Reuters) - India's benchmark indices will hit new highs by end-2024, according to a Reuters poll of equity analysts who have upgraded their outlook from three months ago, as retail investors plough money into one of the world's most expensive stock markets.

Despite growing concerns that India's equity markets are overvalued, local investors have so far ignored warnings and driven share prices to record highs over optimism that India's economy will continue to outpace its peers.

The benchmark BSE Sensex index .BSESN, which gained nearly 19% in 2023 and has risen over 2% for the year, was forecast to add another 8% to reach 80,120 by end-2024, the May 14-22 poll of 26 equity analysts showed.

It was then expected to add another 4% to reach 83,300 by mid-2025. Those estimates were an upgrade from median predictions of 78,550 and 80,920 in a February poll.

"Though the pace of advance has been muted in the last 4-5 months, the overall bias and trend still looks positive... earlier we were seeing mixed signals from global markets, but now the majority of them are also doing well," said Ajit Mishra at stockbroker Religare.

"Overall we are expecting the market to reach further (highs) though...the pace would be gradual. We might not see any major correction."

The Indian economy was forecast to have grown over 7% in the fiscal year 2023-24, with growth expected to moderate only slightly to 6.5% and 6.7% over the next couple of years, according to a separate Reuters poll.

The Sensex has risen in nine of the past 10 years, including the pandemic period. Even with a high price-to-earnings ratio of 24, a correction in the near-term was still not the majority view.

The Nifty 50 .NSEI was expected to gain 6% from Tuesday's close of 22,529 to reach 23,850 by the end of 2024, and 24,750 by mid-2025.

Only half of the 24 respondents who answered an additional question said a correction in the next three months was likely with the rest saying unlikely.

"Right now the market is relatively expensive compared to what growth is telling us. Domestically liquidity was strong but foreigners are taking a cautious stance," said Rajat Agarwal, Asia equity strategist at Societe Generale.

"So it should be more of a year of resilience for the Indian equity market rather than a year of good returns overall."

Most political analysts expect Prime Minister Narendra Modi's Bharatiya Janata Party to win a rare third five-year term in national elections that will soon conclude, with results published in the first week of June.

Agarwal said if there was any disruption to those broad expectations "we should...see some kind of a correction."

(Other stories from the Reuters Q2 global stock markets poll package: nL4N3HO1O6)

(Reporting by Devayani Sathyan; Polling by Susobhan Sarkar and Anant Chandak; Editing by Vivek Mishra, Hari Kishan, William Maclean)

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** Indian benchmarks NSE Nifty 50 .NSEI and S&P BSE Sensex .BSESN gain 0.2% and 0.27%, respectively

** Volatility .NIFVIX eases, but hovers around 19-month highs

** Choppiness in markets due to higher VIX, trend to continue until VIX cools down... which is not expected before elections' outcome - Ajit Mishra, vice president of research, Religare Broking

** Six sectoral indexes trading in green; fast moving consumer goods stocks .NIFTYFMCG top sectoral gainer, up 1.47%

** Reliance Industries RELI.NS, second-heaviest stock on Nifty 50, advances 2.1% after electrolyser deal

** RELI among top boosts on the benchmark, energy stocks .NIFTYENR; latter up 0.7% as oil prices fall

** U.S. rate-sensitive IT stocks .NIFTYIT add 0.78% ahead of Federal Reserve's minutes due later in the day

** Cipla CIPL.NS gains 2.3% after getting U.S. FDA nod for Acromegaly injection, among top gainers on Nifty 50, Nifty Pharma .NIPHARMA

** More domestically focused smallcaps .NIFSMCP100 sheds 0.4% while midcaps .NIFMDCP100 largely flat

(Reporting by Hritam Mukherjee in Bengaluru)

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