Bonus Issue, Stock Split Likely On Jan 27: Multibagger NBFC Stock Zooms 22% In 1-Week

Mid cap company Capri Global Capital Limited scheduled its meeting of Board of Directors for January 27, 2024 to consider issuance of bonus share and sub-division/stock split of equity shares of the company. Capri Global Capital shares gained 22% in last 1-week only and zoomed 102% in last 2-years.

Earlier on January 16, Capri Global Capital shares rallied 13.82% on plans to develop insurance platform. Last trading price of Capri Global Capital share on BSE is Rs 1023.90 apiece. The company has a market capitalisation of Rs 21,159.71 crore. Check details below:

Capri Global Capital Limited Plans To Declare Bonus Share, Stock Split In January: As per the BSE filing of the company dated January 17, "Further to our letters dated December 26, 2023 and January 5, 2024, intimating the exchange about the Board Meeting to be held on January 27, 2024, we further wish to inform that the Board would also consider the following items:

1. Issuance of Bonus shares subject to approval of the shareholders
2. Approval of Sub-Division /Split of the Equity Shares of the Company subject to approval of the shareholders."

Capri Global Capital To Develop Insurance Platform: As per Capri Global's press release dated January 16, 2024, "Capri Global Capital Limited (CGCL) received a composite Corporate Agency license from the Insurance Regulatory and Development Authority of India (IRDAI) in December 2023 to distribute life, general, and health insurance products. CGCL is planning to leverage technology to revolutionize the way insurance products and services are delivered to customers."

The company is planning to use data analytics, artificial intelligence, and blockchain to deliver insurance solutions. This will enable CGCL to automate claims processing and customer support services thereby reducing the cost of operations while improving customer satisfaction, added the company's media release.

Capri Global Capital Stock Performance & Return: The 52-week high price of Capri Global Capital share on BSE is Rs 1034.50 apiece and 52-week low price is Rs 565.85 apiece, respectively. Capri Global Capital shares gained 32% in last 2-weeks, soared 42% in last 1-year, rose 214% in last 3-years, and offered return of 716% in last 5-years.

Capri Global Capital Financials: The company recorded its net sales for the quarter ended September 30, 2023 at Rs 444 crore, up 65% from Rs 269.08 crore in corresponding quarter of last year. Its quarterly net profit rose to 47.72 crore in September 2023, up 16.87% as against Rs 40.83 crore in September 2022. Capri declared its EBITDA at Rs 230.95 crore in September 2023, up 47.65% as compared to Rs 156.42 crore in September 2022. The company declared a decline in its EBS to Rs 2.31 in September 2023 from 2.32 IN September 2022.

Disclaimer: The stock highlights the bonus issue, stocks split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.