Religare Enterprises shares rallied 3.36% to hit a day's high of ₹250.95 on Tuesday after ace investor Ashish Dhawan continued his aggressive buying spree through open-market purchases. According to Business Standard, Dhawan acquired 36,00,238 shares on August 31, 2026 at an average price of ₹237 per share, valued at approximately ₹85.33 crore. This latest purchase represents 1.06% of Religare Enterprises' total voting share capital, following his earlier acquisition of 38 lakh shares on August 28, 2026 for ₹88.16 crore. Together, the two acquisitions increased Dhawan's equity holding by 2.17% in just three days, demonstrating his continued confidence in the company's prospects.
The consecutive transactions have significantly increased Dhawan's total holding to 7.41% of Religare Enterprises, compared with his previous holding of 6.35% as of August 2026. As reported by Business Standard, Dhawan also holds 36,19,148 warrants, bringing his total securities position to 2.89 crore, equivalent to 7.28% of the company's diluted share capital. The diluted share capital calculation includes all outstanding warrants and convertible securities. The latest data confirms Dhawan's stake stood at 5.24% as of June 2026, making this acquisition a significant increase in his position with the stock witnessing a breakout from consolidation.
The stock's performance came amid mixed sectoral movements, with Nifty Realty declining 2.15%, followed by Nifty Consumer Durables down 1.36%, Nifty Pharma lower 1.28%, and Nifty Bank falling 1.19%. According to Moneycontrol, the broader market trading lower with Nifty Midcap index down 1% and smallcap index shed 0.5%. Market breadth remained weak on the BSE, with 1,515 shares advancing, 1,707 declining and 168 remaining unchanged, indicating a broadly negative trend across the broader market.
Religare Enterprises operates as a diversified financial services group with presence across three verticals. According to Business Standard, the company offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance and retail broking. The company has recently appointed Arjun Lamba as managing director effective 12 August 2026.
As reported by Business Standard, Religare Enterprises reported a consolidated net loss of ₹46.98 crore in Q1 FY27, compared with a net profit of ₹8.12 crore in Q1 FY26. However, total income increased 25.70% year-on-year to ₹2,358.43 crore from ₹1,876.25 crore, driven by a 25.17% rise in net insurance premium income to ₹1,978.27 crore. The company also reported a 26% rise in Q1 FY27 income and Care Health Insurance raised ₹150 crore through a rights issue in June 2026, with REL subscribing to shares worth ₹119.68 crore.
