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Reliance Capital 52 week low + home loans entry

January 15, 2009

Reliance Capital Ltd is currently trading at Rs 417.50 down by 15.50 points or 3.58% from its previous closing of Rs 433 on the BSE.

The scrip opened at Rs 415 and has touched a high of Rs 418.40 with a low of Rs 392.15.So far 13, 63,822 shares were traded on the BSE. The stock touched a 52 week low of Rs 392.15 today despite being added to NIFTY. 52 week high is Rs 2,759 on January 16, 2008.

The Anil Dhirubhai Ambani Group-led Reliance Capital is set to foray into the home loan segment as it has received the approval from the National Housing Bank (NHB). The company has set its eyes on becoming a leading player in the home loan market in the next 2-3 years, according to a media report.

The two new entities are expected to launch their operations in the next couple of months. Reliance Capital officials added that employees of Reliance Consumer Finance would be transferred to the new businesses, the report stated.

Reliance ADAG Group topped the Corporate News Worldwide after we revealed Anil Ambani Group was the largest wealth destroyer for shareholders in the 2008 Global Meltdown.

Additionally, on Monday, LiveMint, subsidiary of the Wall Street Journal India said that Reliance ADAG ranked the Worst when it came to Corporate Governance, Ethics and Board Constitution.

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