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

Jyothi Infraventures to hold board meeting
May 24,2017

Jyothi Infraventures will hold a meeting of the Board of Directors of the Company on 29 May 2017.

Powered by Capital Market - Live News

Omega Ag Seeds (Punjab) to hold board meeting
May 24,2017

Omega Ag Seeds (Punjab) will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

Vishvas Projects to hold board meeting
May 24,2017

Vishvas Projects will hold a meeting of the Board of Directors of the Company on 27 May 2017.

Powered by Capital Market - Live News

EL Forge to hold board meeting
May 24,2017

EL Forge will hold a meeting of the Board of Directors of the Company on 26 May 2017.

Powered by Capital Market - Live News

Nimbus Projects to hold board meeting
May 24,2017

Nimbus Projects will hold a meeting of the Board of Directors of the Company on 26 May 2017.

Powered by Capital Market - Live News

Mefcom Capital Markets to hold board meeting
May 24,2017

Mefcom Capital Markets will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

Ruchi Strips & Alloys to hold board meeting
May 24,2017

Ruchi Strips & Alloys will hold a meeting of the Board of Directors of the Company on 27 May 2017.

Powered by Capital Market - Live News

PH Trading to hold board meeting
May 24,2017

PH Trading will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

BCL Industries & Infrastructures to hold board meeting
May 24,2017

BCL Industries & Infrastructures will hold a meeting of the Board of Directors of the Company on 29 May 2017.

Powered by Capital Market - Live News

Raja Bahadur International to hold board meeting
May 24,2017

Raja Bahadur International will hold a meeting of the Board of Directors of the Company on 29 May 2017.

Powered by Capital Market - Live News

Combat Drugs to hold board meeting
May 24,2017

Combat Drugs will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

Gagan Gases to hold board meeting
May 24,2017

Gagan Gases will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

ACI Infocom to hold board meeting
May 24,2017

ACI Infocom will hold a meeting of the Board of Directors of the Company on 26 May 2017.

Powered by Capital Market - Live News

Autolite (India) to hold board meeting
May 24,2017

Autolite (India) will hold a meeting of the Board of Directors of the Company on 30 May 2017.

Powered by Capital Market - Live News

Overseas Synthetics to hold board meeting
May 24,2017

Overseas Synthetics will hold a meeting of the Board of Directors of the Company on 29 May 2017.

Powered by Capital Market - Live News