Reliance Capital Limited gained in the intraday morning hours today, 5 May 2017, on company’s report that it is getting ‘NOC’ from BSE and NSE for the demerger of Reliance Home Finance. The demerging will enable the independent listing of the home finance unit on the Exchange. The demerger proposal can further be expected to unlock value for shareholders of Reliance Capital.
The company has already announced robust financial earnings for the year ended March 31, 2017, with total income for the year ended March 31, 2017, at Rs 1,145 crore indicating an year on year increase of 40 percent.
Reliance Home Finance is subsidiary of Reliance Capital, which provides an array of loan solutions such home loan, construction finance and affordable housing loans etc.
The stock of Reliance Capital Ltd was trading at Rs 671.5, up by Rs 0.25 from its last closing of Rs 671.25 on the BSE. The scrip opened at Rs 675.1 and has touched a high Rs 677.9 and low of Rs 669.5. The current market cap of the company is Rs 16,957.98 crore.