Most of Anil Ambani's companies are going through bankruptcy process. Due to which the shares of the companies have also fallen badly. One such share is that of Reliance Home Finance Limited. The share price is currently less than 2 rupees. There was a rush to buy the stock on Wednesday. On the third day of the week, the stock touched an upper circuit of 2 percent. The share price was previously Rs. 3.60 to Rs. was 3.67.
The share of Reliance Home Finance reached the level of Rs 6.22 in the month of January. The stock also has a 52-week high. In August 2023, the share price was Rs 1.61, which is a 52-week low for this stock. Let us tell you that in the year 2017, the price of this share was more than 120 rupees.
Anil Ambani, the promoter of this company, has insignificant shares. However, if we look at the shareholding pattern, promoter Anil Ambani family's stake in Reliance Home Finance is 0.74 per cent. At the same time, public shareholding is 99.26 percent. Let us tell you that Life Insurance Corporation of India i.e. LIC is also among the public shareholders. LIC holds 74,86,599 shares of Reliance Home Finance. This is equivalent to a stake of about 1.54 percent.
In the Union Budget for the financial year 2024-25, under Urban 2.0, a housing scheme for the urban poor and middle class income families, Rs. Provision has been made to complete one crore houses with an investment of 10 lakh crores. While presenting the budget for the financial year 2024-25 on Tuesday, Finance Minister Nirmala Sitharaman said that a provision of Rs 10 lakh crore has been made for the development of urban housing under the PM Awas Yojana.
Under the Urban Housing Scheme 2.0, the government will provide housing to one crore people. He said that facility of rental houses along with dormitory like accommodation would be provided for industrial workers in PPP mode. The Finance Minister said that water supply, sewerage and solid waste management projects and services will be promoted for 100 major cities. The government has envisioned a scheme to support the development of 100 weekly 'bazaars' in selected cities every year for the next five years.
Giving information about the Pradhan Mantri Awas Yojana, the Finance Minister said that under this scheme, it has been announced to build three crore additional houses in rural and urban areas, for which the necessary funds are being arranged in the budget. He said that under the Pradhan Mantri Awas Yojana 2.0, housing needs of one crore urban poor and middle class families will be met at Rs. 10 lakh crore investment will be completed. In which in the next five years Rs. 2.2 lakh crore will include central assistance.
Note: The information provided here is for informational purposes only, it is important to mention that investing in the market is subject to market risks. So always consult an expert before investing. Tv9 Gujarati never gives investment advice to anyone.
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