Capri Global Share Price Rises Over 12% As Q3 Profit More Than Doubles

Shares of Capri Global Capital Ltd. rose more than 12% to touch over a month-high on Friday after the company's third-quarter results showed the net profit more than doubled for the period. In addition, the volume of the stock was 228 times its 30-day average.

The net profit in the quarter ended December stood at Rs 108 crore, in comparison to Rs 51.3 crore reported in the same quarter last year. The total income for the third quarter rose 26.5% to Rs 604 crore against Rs 478 crore reported in the same period of the previous fiscal.

The gross non-performing assets (GNPA) and the net non-performing assets (NNPA) in the third quarter stood at 1.67% and 1.02%, respectively, the NBFC said in the exchange filing on Thursday.

Abhishek Yada has been appointed as the new Chief Compliance Officer, with effect from Jan. 23 for a tenure of three years after Satish Shimpi resigned from his position. The appointment was approved by the Nomination and Remuneration Committee.

Additionally, the company has appointed Vikram Vaswani as the new Head of Insurance and Principal Officer for a period of three years. This comes as Sanjay Manglani resigned from the position on Jan. 23.

Capri Global Shares Rise To Over One-Month-High

Capri Global Capital share price rose as much as 12.79% to Rs 205 apiece, the highest level since Dec. 13. The stock pared gains to trade 12.24% higher at Rs 204.01 apiece, as of 11:56 a.m. This compares to a 0.60% advance in the NSE Nifty 50 Index.

It has fallen 14.54% in the last 12 months. Total traded volume so far in the day stood at 228 times its 30-day average. The relative strength index was at 65.

The two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 24.7%.