Aditya Birla Capital share fell by 5% on NSE in early trade

NEW DELHI: Shares of Aditya Birla Group's newly-formed financial service company Aditya Birla Capital fell 5 per cent today to hit Rs 235.75 on BSE and 225.65 on NSE during early trading session.
The shares of Aditya Birla Capital (ABCL) got listed on the bourses on September 1, 2017, and later fell by 5 per cent to hit its lowest trading permissible limit for the day.Post the listing post listing of ABCL, the Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion. The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
The listing of ABCL is the culmination of the composite scheme of arrangement under which Aditya Birla Nuvo merged with Grasim Industries and the financial services undertaking was subsequently demerged into ABCL, the company had said in a statement. ABCL is the holding company of the financial services businesses of the Aditya Birla Group.
The company has presence across life insurance, asset management, private equity, corporate lending, structured finance, general insurance broking, equity, currency and commodity broking, pension fund management and health insurance.