Capital First closes high on D-street

Capital First was certainly the stock of the day on November 23. The stock, which had previously closed at Rs 483.15, opened at Rs 494.90, up by 2 per cent. It closed as the sixth largest gainer in BSE 500, behind Adani Enterprise, Piramal Enterprise, MOIL, Ramkrishna Forgings and Minda Industries.

Capital First Ltd, a non-banking finance company in which private equity firm Warburg Pincus LLC has a stake, recently announced that it plans to raise Rs 340 crore in fresh equity capital from an affiliate of Singapore’s sovereign wealth fund GIC PTE.

The financial numbers of the company in Q2 are impressive. The net sales of Capital First in this quarter increased 56.27 per cent to Rs 664.66 crore. Its PBIDT at Rs 364.47 crore recorded an increase of 35.21 per cent YoY. The company's PAT stood at Rs 46.72 crore, an increase of 17.56 per cent, as compared to the corresponding quarter of the previous fiscal. 

The shares of Capital First in the last six months have surged six per cent. However, in the last three months, the share prices have fallen by 30 per cent. The stock's 52-two-week high/low stands at Rs 796.25/348.