Capri Global Capital share price up 15%; What's boosting rally in stock?

Capri Global Capital shares zoomed 14.6 per cent in trade and registered an intraday high of Rs 211.8 per share on BSE. The stock was in demand after the company reported good Q2 results. 

 

Around 10:44 AM, Capri Global Capital shares were up 14.15 per cent at Rs 210.95 per share. In comparison, the BSE Sensex was down 0.32 per cent at 80,114.61. The market capitalisation of the company stood at Rs 17,402.11 crore. 

 

Capri Global Capital, on Tuesday, after market hours, registered a consolidated net profit of Rs 96.98 crore as compared to Rs 65.24 crore a year ago which implies a 48.6 per cent increase in profit after tax (PAT). 

 

The revenue of Capri Global Capital for the quarter under review stood at Rs 751.63 crore, up 35 per cent, as compared to Rs 557.50 crore a year ago.

 

However, the company's total expenses also increased 32.4 per cent to Rs 624.54 crore in the quarter under review as compared to Rs 471.67 crore. 

 

On October 15, the company partnered with renewable energy fintech Credit Fair to offer its new rooftop solar finance product under MSME loans, targeting a separate Rs 1,000 crore green loan book in the coming years.

 

Through the partnership, Credit Fair was to handle digital customer onboarding for loans ranging from Rs 50,000 to Rs 25,00,000 at competitive rates. The financing covers the complete cost of solar modules, inverters, batteries, and installation, providing a comprehensive option for self-use solar projects while ensuring a seamless credit experience via Credit Fair's platform.

 

Amar Rajpurohit, CBO (MSME Loans) of Capri Global Capital said, "We are keen to be one of the early bird NBFCs in the space of rooftop solar finance. Capri Solar Finance aims to reach a loan book size of Rs 1,000 crore in the coming years in this business. First phase of rollout will focus on Rajasthan, Madhya Pradesh, and Gujarat, with plans to expand to Delhi, Maharashtra, Uttar Pradesh and Uttarakhand by year-end.” 

 

Capri Global Capital is an Indian financial services company that  provides various financial solutions, including lending and investment services. Established in 1994, the company is known for its expertise in the non-banking financial company (NBFC) sector.

 

It offers a range of products, including home loans, personal loans, and business loans. It emphasis technology and digital solutions to enhance customer experience and streamline operations.

 

In the past one year, Capri Global Capital shares have lost 97 per cent against Sensex's rise of 25 per cent.