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BUZZ-India's Reliance Home Finance shares rise in market debut
September 22, 2017 / 5:38 AM / 3 months ago

BUZZ-India's Reliance Home Finance shares rise in market debut

** India’s Reliance Home Finance Ltd shares opened at 102.10 rupees in its trading debut, rising as much as 5 pct to 107.20 rupees

** The home finance firm was demerged earlier this month from Reliance Capital Ltd, which now holds a 51 percent stake

** Shareholders of Reliance Capital were to get one free Reliance Home Finance share for every share held upon listing, Reliance Capital had said in a filing

** Reliance Capital shares down as much as 5 pct at 681.75 rupees

** Given the opportunities in the housing segment, we believe there is immense scope for Reliance Home Finance to improve growth momentum; demerger to entail sharper focus and more efficient capital allocation - Edelweiss

** NSE index was down 1.08 pct at 10,012.90 by 0536 GMT, while the BSE index fell 0.87 pct at 32,091.38

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