Capital First continues its jolly ride on D-street

The markets on November 25 have been fabulous with Sensex as at 2.34 pm being up by over 370 points. On the other hand, Capital First, the stock of sector which has been affected by demonetisation continues to gain on the national bourses. Capital First which previously closed at Rs 520, opened at Rs 525. The shares of the company have hit a high of 4 per cent intra-day and as at 2.39 pm are trading at Rs 540. The shares of company 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.

Capital First Ltd., had recently announced its 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 have increased 56.27 per cent to Rs 664.66 crore. Its PBIDT at Rs 364.47 crore  has recorded an increase of 35.21 per cent YoY. The company's PAT stands at Rs 46.72 crore, an increase of 17.56 per cent, as compared to the corresponding quarter of the previous fiscal.