Capital First advances after raising funds

Capital First gained 1.52% to Rs 666.65 at 11:15 IST on BSE after the company said it raised Rs 50 crore by allotting non-convertible debentures.

The announcement was made after market hours yesterday, 27 June 2017.

Meanwhile, the S&P BSE Sensex was down 37.29 points, or 0.12% at 30,920.96. The S&P BSE Mid-Cap index was up 55.20 points, or 0.38% at 14,524.08.

On the BSE, 29,652 shares were traded on the counter so far as against the average daily volumes of 7.04 lakh shares in the past one quarter. The stock had hit a high of Rs 670.70 and a low of Rs 643 so far during the day. The stock had hit a 52-week high of Rs 814.80 on 10 May 2017 and a 52-week low of Rs 465.10 on 22 November 2016.

The stock had dropped 7.7% in three sessions to Rs 656.65 yesterday, 27 June 2017, from a close of Rs 711.45 on 21 June 2017.

The stock had underperformed the market over the past one month till 27 June 2017, falling 8.07% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.83% as against Sensex's 5.89% rise. The scrip had, however, outperformed the market in past one year, gaining 18.86% as against Sensex's 17.25% rise.

The mid-cap company has equity capital of Rs 97.73 crore. Face value per share is Rs 10.

Capital First said that the debenture committee constituted by the board of directors of the company vide resolution passed by circulation yesterday, 27 June 2017, approved the allotment of 500 rated, listed, secured, redeemable, non-convertible debentures (NCDs) having face value of Rs 10 lakh each aggregating Rs 50 crore on private placement basis.

Capital First's consolidated net profit rose 49.1% to Rs 70.83 crore on 35.6% increase in total income to Rs 756.84 crore in Q4 March 2017 over Q4 March 2016.

Capital First is a financial institution focused on providing debt financing to micro small and medium enterprises (MSME) and Indian consumers.

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