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Shares of Reliance Home Finance rose on market debut. The company's shares opened at Rs 102.10 on trading debut, rising as much as 5 per cent to Rs 107.20.
The home finance firm was demerged earlier this month from Reliance Capital Ltd, which now holds a 51 per cent 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 were down as much as 5 per cent at Rs 681.75.
"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,'' says Edelweiss.
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