Capri Global Capital surges on getting license from IRDAI for setting up of insurance business
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Capri Global Capital is currently trading at Rs. 776.75, up by 12.80 points or 1.68% from its previous closing of Rs. 763.95 on the BSE.
The scrip opened at Rs. 780.20 and has touched a high and low of Rs. 798.00 and Rs. 774.75 respectively. So far 4040 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 874.00 on 15-Jun-2023 and a 52 week low of Rs. 565.85 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 798.00 and Rs. 742.05 respectively. The current market cap of the company is Rs. 15978.06 crore.
The promoters holding in the company stood at 69.91%, while Institutions and Non-Institutions held 14.97% and 15.11% respectively.
Capri Global Capital has received Corporate Agency license from Insurance Regulatory and Development Authority of India (IRDAI) for setting up of insurance business. It is eyeing to generate net Insurance Income of around Rs 20 crore in FY 2024-25. There will be expected approximate increase in variable cost in the range of Rs 2-3 crore on annual basis.
Capri Global Capital is engaged in the business of providing loans to Micro, Small and Medium Enterprises (MSMEs), providing long term finance for construction of residential houses in India, retail Lending in India and in providing ancillary services related to the said business activities.
