1:1 Payout: 41,24,69,986 Bonus Shares Allotted; Buy The NBFC Stock After Major Update?

In the NBFC sector, Capri Global Capital Limited is a small-cap company. As of Thursday's closing session, its market valuation was Rs 20,470.89 Cr. Following the release of a significant update about bonus shares, Capri Global Capital's shares closed 0.10% higher at Rs 248.15 per share. A diversified non-banking financial company (NBFC) listed on the NSE and BSE is Capri Global Capital Limited (CGCL). The share price of the scrip peaked on March 5, 2024 to hit a 52-week-high, at Rs 289.40, and fell to Rs 141.46 on March 27, 2023, marking a 52-week low.

Capri Global Capital Bonus Share Update

"Pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby inform that the Company has allotted 41,24,69,986 fully paid-up Bonus Equity Shares of face value of Re.1/- each in the ratio 1:1 i.e.,One (1) Equity Share of face value of Re.1/- each for every One (1) Equity Share of face value of Re.1/- each held by the shareholders of the Company as on the record date i.e. March 05, 2024," said Capri Global Capital in a stock exchange filing on March 07,2024.

Capri Global Capital Stock Split Update

In addition to the above said bonus shares, the company had also announced a sub-division of existing 1 (One) Equity Share of the face value of Rs. 2/- each fully paid-up into 2 (Two) Equity Shares of the face value of Re.1/- each fully paid-up for which the record date was Tuesday, March 5, 2024.

Capri Global Capital Financials

On a consolidated basis, the company reported net sales of Rs 605.04 crore in the December 2023 quarter up 57.23% from Rs. 384.80 crore in the December 2022 quarter. Its net profit stood at Rs. 67.98 crore in Q3FY24 up 81.67% from Rs. 37.42 crore in Q3FY23. The company's consolidated EBITDA reached Rs. 335.42 crore in the reporting quarter up 65.81% from Rs. 202.29 crore in the same quarter of the previous fiscal.

Capri Global Capital Share Price Target

Capri Global is bearish on the Daily charts with strong resistance at 283. A daily close below support of 222 could lead to a target of 182 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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