Bengaluru, Feb. 16 -- The shares of the company, which is a diversified financial services company with a presence all over India, operating through its subsidiaries, came into focus after it announced the demerger of its business.

With the market capitalization of Rs 7,627 crore, Religare Enterprises Ltd's shares on Monday made a day low of Rs 244.30 per share, down by 6.2 percent from its previous day's closing price of Rs 229 per share. The share trades at an overvalued P/E of 77.5x, way higher than the industry P/E of 26x.

What Happened

Demerger: The Boards of Religare Enterprises Limited and Religare Finvest Limited have approved a demerger to separate the group's financial services and insurance operations into two independently ...