 "5paisa Capital surges 20% as net loss narrows in March quarter")
Shares of 5paisa Capital rallied 20 per cent to Rs 281 on the BSE in intra-day trade on Thursday after the company reported net loss of Rs 33 lakh, a decline of 95 per cent (year on year) from Rs 6.93 crore, for the quarter ended March 2019. The company, engaged in providing financial products through its online technology platform and mobile applications, managed to improve its financial position through higher operational income.
Total income during the quarter rose nearly three-fold to Rs 21.89 crore from Rs 7.87 crore against the same quarter of previous fiscal.
Continued efforts at promoting growth along with cost efficiency helped tone the company’s losses down by 95 per cent against the previous quarter despite the last quarter being majorly subdued, the company said in its statement. It further added that expansion of its offerings to include commodities trading during the quarter helped the market share to grow at an all- time high of 2.4 per cent in the cash segment and 1.9 per cent overall.
The company has received in-principle approval from NSE and BSE and was awaiting the observation letter from SEBI for the proposed Rs 102 crore rights issue, it said.
The board, at its meetings held on July 17, 2018 and September 12, 2018, had approved the proposal of issue of equity shares by way of a rights Issue to the existing shareholders in the ratio of 1:1 at a premium of Rs 70 per share i.e. issue price of Rs 80 each aggregating Rs 102 crore.
5paisa Capital, registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor, targets retail investors and high volume traders who actively invest and trade in securities markets and seek DIY (Do-it-Yourself) services at a low cost.
At 12:43 pm, the stock was trading 15 per cent higher at Rs 270 on the BSE, as compared to 0.18 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with a combined 104,892 shares changing hands on the BSE and NSE till the time of writing this report.
Total income during the quarter rose nearly three-fold to Rs 21.89 crore from Rs 7.87 crore against the same quarter of previous fiscal.
Continued efforts at promoting growth along with cost efficiency helped tone the company’s losses down by 95 per cent against the previous quarter despite the last quarter being majorly subdued, the company said in its statement. It further added that expansion of its offerings to include commodities trading during the quarter helped the market share to grow at an all- time high of 2.4 per cent in the cash segment and 1.9 per cent overall.
The company has received in-principle approval from NSE and BSE and was awaiting the observation letter from SEBI for the proposed Rs 102 crore rights issue, it said.
The board, at its meetings held on July 17, 2018 and September 12, 2018, had approved the proposal of issue of equity shares by way of a rights Issue to the existing shareholders in the ratio of 1:1 at a premium of Rs 70 per share i.e. issue price of Rs 80 each aggregating Rs 102 crore.
5paisa Capital, registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor, targets retail investors and high volume traders who actively invest and trade in securities markets and seek DIY (Do-it-Yourself) services at a low cost.
At 12:43 pm, the stock was trading 15 per cent higher at Rs 270 on the BSE, as compared to 0.18 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with a combined 104,892 shares changing hands on the BSE and NSE till the time of writing this report.
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