Future & Option contracts expiry: Reliance Capital drops by 5%

Reliance Capital Stock of Reliance Capital declined by 5% as Future & Option (F&O) contracts expire on Monday.  The stock will turn ex-date tomorrow for the proposed demerger of Reliance Home Finance. The Reliance was trading at Rs 815 per share, down by 4.96% on BSE near on closing hours today. Reliance Capital will be kept out from 11 S&P BSE indices from Sept 5, 2017, by reason that the company is demerging its real estate lending business.

Reliance Home Finance shall issue and allot shares on a proportionate basis to the shareholders of Reliance Capital, As per Scheme of Arrangement approved by the NCLT. However, shareholders of Reliance Capital as on Sept 6, 2017, will get one free share of Reliance Home Finance for every share held in Reliance Capital.