Reliance Home Finnace hits 5% UC

Reliance Home Finance was the new listing on the exchanges today. The stock price opened at Rs.104 and within minutes, surged 5%, hitting the UC at Rs.109.20.

This company was formed from Reliance Capital reorg.

This is a home finance company and 51% of its equity is held by Reliance Capital, after completing demerger from the Ambani’s financial services arm on September 6.

78% of its loans are given to self-employed individuals and remaining 22% to salaried individuals.