1:1 Bonus Share, 2:1 Stock Split: NBFC Co To Mull Dividend, 75% Growth In Car Loans; Bet?

Mid cap NBFC sector company Capri Global Capital Limited today declared that it achieved a remarkable 75% year-on-year (y-o-y) growth in new car loans and disbursed over Rs. 10,000 crore to around 94,000 customers. This represents approximately 2.5% of India's total passenger vehicle market. Capri Global Capital also announced its upcoming meeting of Board to be held on May 8, 2024 to consider dividend and financial results for the period ended March 2024.

Last trading price of Capri Global Capital share on BSE is Rs 218.25 per share with intraday fall of 2.72%. Capri Global Capital shares offered return of 7% in last 1-week and zoomed 132% in last 3-years. AR Ramachandran from Tips2trades has buy call on Capri Global with target price of Rs 262 per share. Check more details pertaining to Capri Global Capital:

Should You Buy Capri Global Capital Shares? According to AR Ramachandran from Tips2trades,"Capri Global stock price is bullish on daily charts with strong support at Rs 206. A daily close above resistance of Rs 230 could lead to an upward target of Rs 262 in the near term."

Osho Krishan, Senior Research Analyst, Technical & Derivatives at Angel One said, "The stock is in a secular uptrend. After the recent correction from its lifetime highs of Rs 290, it seems poised to continue its primary trend. For now, the Rs 200 zone is likely to act as support. On the higher end, a series of resistance is seen around Rs 235-245 levels, breaching with it is anticipated to see a strong run in the near period."

Capri Global Capital Disburses Over 10,000 Crores Worth New Car Loans: As per the regulatory filing, "Last year Capri Loans focused on expanding its footprint across the length of the country and established presence at 750 locations in 28 states predominantly in the Tier III cities and Tier IV towns. The lender also increased qualified and experienced work force. In addition to operations ramp up, the NBFC also added a number of banking partners and distributors to support the increasing demand. This has allowed the company to gain market share from urban and semi urban areas where demand for new cars was at a record new high in FY24."

Rajesh Sharma, Managing Director, expanded on this vision and said, "India's new car market is experiencing an unprecedented boom, fuelled by surging demand. Notably, there's a discernible preference for larger vehicles such as SUVs and sports models, alongside a growing interest in efficient electric variants, particularly in urban areas. The ownership of a car symbolizes independence, status, and personal fulfilment. At Capri Loans, we're dedicated to turn car buyers' dreams into reality by providing accessible financing options."

Capri Global Capital Shares Performance & Return: The 52-week high price of Capri Global Capital Limited share on BSE is Rs 289.40 per share and 52-week low price is Rs 218.25 per share, respectively. The company's market capitalisation stood at Rs 18,004.31 crore. Capri Global Capital shares declined 12% in last 1-month, soared 49% in last 1-year, and offered return of 400% in last 5-years.

Capri Global Capital Limited Bonus Share, Stock Split In 2024: The company announced 1:1 bonus share and 2:1 stock split in 2024 and fixed the Record date as March 5, 2024.

Capri Global Capital Financials: The company for the quarter ended December 31, 2023 declared its net sales at Rs 605.04 crore, up 57.23% as against Rs 384.80 crore in the corresponding quarter of December 2022. The company's quarterly net profit jumped 81.67% to Rs 67.98 crore from Rs 37.42 crore declared in the similar quarter of last year. Its EBITDA stood at Rs 335.42 crore in December 2023, up 65.81% as compared to Rs 202.29 crore in December 2022.

Capri Global declared its EPS surged to Rs 3.30 in December 2023 from Rs 2.13 in December 2022.

Disclaimer: The stock has been picked from the brokerage report of Angel One and Tips2trades. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.