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

Windsor Machines to hold board meeting
Nov 03,2016

Windsor Machines will hold a meeting of the Board of Directors of the Company on 11 November 2016, to approve the Un-audited Financial Results for the quarter and half year ended 30 September 2016.

Powered by Capital Market - Live News

JCT to hold board meeting
Nov 03,2016

JCT will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider the Unaudited Financial Results of the Company after Limited Review for the Quarter and Half-year ended 30 September 2016.

Powered by Capital Market - Live News

Margo Finance to hold board meeting
Nov 03,2016

Margo Finance will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Un- Audited Financial Results for the Quarter and half year ended on 30 September 2016.

Powered by Capital Market - Live News

Chandni Textiles Engg. Industries to hold board meeting
Nov 03,2016

Chandni Textiles Engg. Industries will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider Un-audited Financial Results for the quarter and half year ended 30 September 2016 & consolidation of 10 equity shares of the face value of Rs. 1/- each Into 1 equity share of the face value of Rs. 10/- each.

Powered by Capital Market - Live News

Systematix Corporate Services to hold board meeting
Nov 03,2016

Systematix Corporate Services will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Un-audited Standalone & Consolidated Financial Results of the Company for the quarter ended 30 September 2016.

Powered by Capital Market - Live News

Modi Udyog to hold board meeting
Nov 03,2016

Modi Udyog will hold a meeting of the Board of Directors of the Company on 14 November 2016, to approve the Unaudited Financial Results for Quarter Ended 30 September 2016

Powered by Capital Market - Live News

National General Industries to hold board meeting
Nov 03,2016

National General Industries will hold a meeting of the Board of Directors of the Company on 14 November 2016, to approve and take on record the Un-audited Financial Results for the quarter and half year ended on 30 September 2016.

Powered by Capital Market - Live News

MVL to hold board meeting
Nov 03,2016

MVL will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the Un-audited Financial Results for the Quarter and 6 months ended 30 September 2016.

Powered by Capital Market - Live News

Trivikrama Industries to hold board meeting
Nov 03,2016

Trivikrama Industries will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider, approve and take on record the Un-audited Financial Results for the Half Year ended 30 September 2016 among other items.

Powered by Capital Market - Live News

Gopal Iron & Steels Co. (Gujarat) to hold board meeting
Nov 03,2016

Gopal Iron & Steels Co. (Gujarat) will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and approve unaudited (provisional) financial results for the quarter and half year ended on 30 September 2016.

Powered by Capital Market - Live News

Sulabh Engineers & Services to hold board meeting
Nov 03,2016

Sulabh Engineers & Services will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and approve the unaudited financial results (Stand alone) for the quarter and half year ended on 30 September 2016, and to transact such other business as may be required.

Powered by Capital Market - Live News

Jindal Photo to hold board meeting
Nov 03,2016

Jindal Photo will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider and approve the un-audited standalone financial results for the quarter ended on 30 September 2016 and approve amendment in Memorandum of Association of the Company by way of altering registered office clause from Union Territory Dadra to State of Utter Pradesh.

Powered by Capital Market - Live News

Kuantum Papers to hold board meeting
Nov 03,2016

Kuantum Papers will hold a meeting of the Board of Directors of the Company on 11 November 2016, to review and approve the Unaudited Financial Results for the quarter and half year ended 30 September 2016

Powered by Capital Market - Live News

Moving Picture Company (I) to hold board meeting
Nov 03,2016

Moving Picture Company (I) will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider the unaudited financial results for the Half year Quarter ended 30 September 2016.

Powered by Capital Market - Live News

Sri Ganapathy Mills Company to hold board meeting
Nov 03,2016

Sri Ganapathy Mills Company will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider unaudited financial results of Company for the half year and quarter ended 30 September 2016.

Powered by Capital Market - Live News