NBFC Stock Soars 13.82% Intraday On Plans To Develop Insurance Platform

Mid cap company Capri Global Capital Limited share today zoomed 13.82% till 10:33 am on plans to develop insurance platform. Last trading price of Capri Global Capital share on BSE is Rs 911.00 apiece.

The company has a market capitalisation of Rs 19,111.80 crore. Capri Global Capital shares gained 28% in last 1-year and soared 180% in last 3-years. Check details below:

Capri Global Capital To Develop Insurance Platform, Shares Zoom: According to the company's media 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 939.95 apiece and 52-week low price is Rs 565.85 apiece, respectively. Capri Global Capital shares gained 18% in last 2-weeks, soared 28% in last 1-year, rose 84% in last 2-years, and offered return of 633% 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.

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