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

Oriental Veneer Products to hold board meeting
Oct 25,2016

Oriental Veneer Products will hold a meeting of the Board of Directors of the Company on 8 November 2016 to consider and approve the Un-audited Financial Results (standalone) for the quarter and half year ended on September 30, 2016 (Q2).

Powered by Capital Market - Live News

Grovy India to hold board meeting
Oct 25,2016

Grovy India will hold a meeting of the Board of Directors of the Company on 10 November 2016 To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on September 30, 2016.

Powered by Capital Market - Live News

Cyber Media (India) to hold board meeting
Oct 25,2016

Cyber Media (India) will hold a meeting of the Board of Directors of the Company on 7 November 2016 to consider and approve the unaudited financial results of the Company, stand alone and consolidated, for the quarter and half year ended September 30, 2016.

Powered by Capital Market - Live News

New Delhi Television to hold board meeting
Oct 25,2016

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

Powered by Capital Market - Live News

Board of ICICI Prudential Life Insurance Co. recommends dividend
Oct 25,2016

ICICI Prudential Life Insurance Co. announced that the Board of Directors of the Company at its meeting held on 25 October 2016, inter alia, have recommended the dividend of Rs 1.75 per equity Share (i.e. 17.5%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Board of Granules India recommends dividend
Oct 25,2016

Granules India announced that the Board of Directors of the Company at its meeting held on 25 October 2016, inter alia, have recommended the dividend of Rs 0.2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Denis Chem Lab to hold board meeting
Oct 25,2016

Denis Chem Lab will hold a meeting of the Board of Directors of the Company on 10 November 2016 Unaudited Financial Results for the quarter ended September 30, 2016

Powered by Capital Market - Live News

Amit Securities to hold board meeting
Oct 25,2016

Amit Securities will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the Unaudited Standalone Financial Results of the Company for the Quarter ended September 30, 2016.

Powered by Capital Market - Live News

Bisil Plast to hold board meeting
Oct 25,2016

Bisil Plast will hold a meeting of the Board of Directors of the Company on 12 November 2016.

Powered by Capital Market - Live News

Super Bakers (India) to hold board meeting
Oct 25,2016

Super Bakers (India) will hold a meeting of the Board of Directors of the Company on 12 November 2016.

Powered by Capital Market - Live News

Typhoon Financial Services to hold board meeting
Oct 25,2016

Typhoon Financial Services will hold a meeting of the Board of Directors of the Company on 12 November 2016.

Powered by Capital Market - Live News

Kamron Laboratories to hold board meeting
Oct 25,2016

Kamron Laboratories will hold a meeting of the Board of Directors of the Company on 12 November 2016.

Powered by Capital Market - Live News

Board of Hexaware Technologies recommends dividend
Oct 25,2016

Hexaware Technologies announced that the Board of Directors of the Company at its meeting held on 25 October 2016, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Allahabad Bank to hold board meeting
Oct 25,2016

Allahabad Bank will hold a meeting of the Board of Directors of the Company on 4 November 2016 to consider and approve the Un-audited financial results of the Bank for the quarter and half year ended September 30, 2016 (Q2).

Powered by Capital Market - Live News

Valson Industries to hold board meeting
Oct 25,2016

Valson Industries will hold a meeting of the Board of Directors of the Company on 12 November 2016.

Powered by Capital Market - Live News