My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

Powered by Capital Market - Live News

Raj Oil Mills schedules board meeting
Aug 03,2017

Raj Oil Mills will hold a meeting of the Board of Directors of the Company on 8 August 2017.

Powered by Capital Market - Live News

Empee Distilleries to convene board meeting
Aug 03,2017

Empee Distilleries will hold a meeting of the Board of Directors of the Company on 9 August 2017.

Powered by Capital Market - Live News

Shree Surgovind Tradelink to announce Quarterly Result
Aug 03,2017

Shree Surgovind Tradelink will hold a meeting of the Board of Directors of the Company on 4 August 2017.

Powered by Capital Market - Live News

Oceanaa Biotek Industries to declare Quarterly Result
Aug 03,2017

Oceanaa Biotek Industries will hold a meeting of the Board of Directors of the Company on 11 August 2017.

Powered by Capital Market - Live News

Simplex Projects to hold board meeting
Aug 03,2017

Simplex Projects will hold a meeting of the Board of Directors of the Company on 14 August 2017.

Powered by Capital Market - Live News

MBL Infrastructures to hold board meeting
Aug 03,2017

MBL Infrastructures will hold a meeting of the Board of Directors of the Company on 11 August 2017.

Powered by Capital Market - Live News

Siti Networks to discuss results
Aug 03,2017

Siti Networks will hold a meeting of the Board of Directors of the Company on 11 August 2017.

Powered by Capital Market - Live News

Hathway Cable & Datacom to discuss results
Aug 03,2017

Hathway Cable & Datacom will hold a meeting of the Board of Directors of the Company on 10 August 2017.

Powered by Capital Market - Live News

Step Two Corporation to conduct board meeting
Aug 03,2017

Step Two Corporation will hold a meeting of the Board of Directors of the Company on 10 August 2017.

Powered by Capital Market - Live News

PTC India Financial Services announces board meeting date
Aug 03,2017

PTC India Financial Services will hold a meeting of the Board of Directors of the Company on 9 August 2017.

Powered by Capital Market - Live News

Lyons Corporate Market to announce Quarterly Result
Aug 03,2017

Lyons Corporate Market will hold a meeting of the Board of Directors of the Company on 10 August 2017.

Powered by Capital Market - Live News

Siddhi Vinayak Shipping Corp. to declare Quarterly Result
Aug 03,2017

Siddhi Vinayak Shipping Corp. will hold a meeting of the Board of Directors of the Company on 5 August 2017.

Powered by Capital Market - Live News

Niraj Cement Structurals to declare Quarterly Result
Aug 03,2017

Niraj Cement Structurals will hold a meeting of the Board of Directors of the Company on 4 August 2017.

Powered by Capital Market - Live News

GSS Infotech to hold board meeting
Aug 03,2017

GSS Infotech will hold a meeting of the Board of Directors of the Company on 8 August 2017.

Powered by Capital Market - Live News

Focus Industrial Resources to convene board meeting
Aug 03,2017

Focus Industrial Resources will hold a meeting of the Board of Directors of the Company on 12 August 2017.

Powered by Capital Market - Live News