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

Motor & General Finance schedules AGM
Aug 19,2017

Motor & General Finance announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

Powered by Capital Market - Live News

Medicamen Biotech AGM scheduled
Aug 19,2017

Medicamen Biotech announced that the Annual General Meeting (AGM) of the company will be held on 13 September 2017.

Powered by Capital Market - Live News

ICDS AGM scheduled
Aug 19,2017

ICDS announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

Powered by Capital Market - Live News

Manaksia Industries to conduct AGM
Aug 19,2017

Manaksia Industries announced that the Annual General Meeting (AGM) of the company will be held on 18 September 2017.

Powered by Capital Market - Live News

Metal Coatings (India) to conduct AGM
Aug 19,2017

Metal Coatings (India) announced that the Annual General Meeting (AGM) of the company will be held on 22 September 2017.

Powered by Capital Market - Live News

Shivalik Rasayan to conduct AGM
Aug 19,2017

Shivalik Rasayan announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2017.

Powered by Capital Market - Live News

Raghuvir Synthetics to convene AGM
Aug 19,2017

Raghuvir Synthetics announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2017.

Powered by Capital Market - Live News

Lux Industries to declare Quarterly Result
Aug 19,2017

Lux Industries will hold a meeting of the Board of Directors of the Company on 26 August 2017.

Powered by Capital Market - Live News

Goyal Associates AGM scheduled
Aug 19,2017

Goyal Associates announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

Powered by Capital Market - Live News

ERIS Lifesciences to conduct AGM
Aug 19,2017

ERIS Lifesciences announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

Powered by Capital Market - Live News

Filatex India schedules AGM
Aug 19,2017

Filatex India announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2017.

Powered by Capital Market - Live News

Fischer Chemic schedules AGM
Aug 19,2017

Fischer Chemic announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

Powered by Capital Market - Live News

Flora Textiles to convene AGM
Aug 19,2017

Flora Textiles announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2017.

Powered by Capital Market - Live News

Gitanjali Gems to convene AGM
Aug 19,2017

Gitanjali Gems announced that the 31st Annual General Meeting (AGM) of the company will be held on 28 September 2017.

Powered by Capital Market - Live News

Terai Tea Co gets ratings for bank facilities
Aug 19,2017

Terai Tea Co announced that CRISIL has maintained its credit rating on the bank facilities of the Company as under -

Long term rating: BBB-/Stable
Short term rating: CRISIL A3

Powered by Capital Market - Live News