My Application Form Status

Check the status of your application form with Angel Broking.
  • Companies
  • Everything else
Search
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

Kinetic Trust to hold board meeting
Nov 05,2016

Kinetic Trust will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider the unaudited financial results for the quarter ended 30 September, 2016.

Powered by Capital Market - Live News

Kavveri Telecom Products to hold board meeting
Nov 05,2016

Kavveri Telecom Products will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve and authenticate the Un-Audited financial results of the Company for the Second quarter & Half year ended on 30 September, 2016.

Powered by Capital Market - Live News

Tej Infoways to hold board meeting
Nov 05,2016

Tej Infoways will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve and authenticate the Un-Audited quarterly financial results of the Company for the quarter & Half Year ended on 30 September, 2016.

Powered by Capital Market - Live News

Salguti Industries to hold board meeting
Nov 05,2016

Salguti Industries will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider, approve and authenticate the Un-Audited financial results of the Company for the Second quarter & Half Year ended on 30 September, 2016.

Powered by Capital Market - Live News

Aashee Infotech to hold board meeting
Nov 05,2016

Aashee Infotech will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve inter-alia the Un-audited financial Results of the Quarter/Half year ended 30 September, 2016.

Powered by Capital Market - Live News

Cubex Tubings to hold board meeting
Nov 05,2016

Cubex Tubings will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider, approve and authenticate the Unaudited Financial Results of the Company for the second quarter ended 30 September, 2016.

Powered by Capital Market - Live News

Board of Comfort Intech appoints CFO
Nov 05,2016

The Board of Directors of Comfort Intech at its meeting held on 05 November 2016 approved the appointment of Pravin Naik as Chief Financial Officer of the Company with effect from 05 November 2016.

Powered by Capital Market - Live News

Board of Beryl Securities approves change in registered office
Nov 05,2016

Beryl Securities announced that the Board of Directors of the Company at its meeting held on 05 November 2016, inter alia, has considered and approved the following business:

- Considered and approved the matter of change in registered office of the Company from 43-44, 2nd Floor, Dawa Bazaar, 13-14, RNT Marg, Indore-452001 to 133, Kanchan Bagh, Indore- 452001 within the local limits of the city.

Powered by Capital Market - Live News

Kanak Krishi Implements to hold board meeting
Nov 05,2016

Kanak Krishi Implements will hold a meeting of the Board of Directors of the Company on 11 November 2016 to consider and approve the Unaudited Financial Results of the Company for the half year ended on 30 September, 2016.

Powered by Capital Market - Live News

Tijaria Polypipes to hold board meeting
Nov 05,2016

Tijaria Polypipes will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the Un-audited Financial Results for the quarter and half year ended 30 September, 2016.

Powered by Capital Market - Live News

Canopy Finance to hold board meeting
Nov 05,2016

Canopy Finance will hold a meeting of the Board of Directors of the Company on 12 November 2016 Unaudited financial results for the quarter and half year ended on 30 September, 2016.

Powered by Capital Market - Live News

Sportking India to hold board meeting
Nov 05,2016

Sportking India will hold a meeting of the Board of Directors of the Company on 14 November 2016 Unaudited Financial Results for the quarter and half year ended on 30 September, 2016.

Powered by Capital Market - Live News

Cox & Kings to hold board meeting
Nov 05,2016

Cox & Kings will hold a meeting of the Board of Directors of the Company on 28 November 2016 Un-Audited Financial Results for the quarter ended 30 September, 2016 (Q2).

Powered by Capital Market - Live News

Navigant Corporate Advisors to hold board meeting
Nov 05,2016

Navigant Corporate Advisors will hold a meeting of the Board of Directors of the Company on 14 November 2016 To consider and approve Unaudited (Provisional) Financial Results of the Company for the half Year ended 30 September, 2016 along with Limited Review report.

Powered by Capital Market - Live News

Shailja Commercial Trade Frenzy to hold board meeting
Nov 05,2016

Shailja Commercial Trade Frenzy will hold a meeting of the Board of Directors of the Company on 12 November 2016 unaudited financial results for the quarter and half year ended on 30 September, 2016

Powered by Capital Market - Live News