Centrum Capital jumped 4.97% to Rs 1500 at 10:34 IST on BSE, extending gains ever since the company said that Future Capital Holdings has invested Rs 100 crore in its two subsidiaries.
Future Capital Holdings (FCH) is the financial services arm of the Future Group. The news broke out on
The scrip was trading at its session’s high. It hit a low of Rs 1595 so far during the day. The stock had hit a 52-week high of Rs 1670 on
The small-cap financial services firm has an equity capital of Rs 5.74 crore. Face value per share is Rs 10.
At the current price of Rs 1500, the scrip trades at a PE multiple of 25.14, based on Q3 December 2007 annualised EPS of Rs 59.65.
FCH has invested Rs 100 crore in two subsidiaries of Centrum Capital, which are into foreign exchange and wealth management businesses.
FCH will invest Rs 75 crore into Centrum Direct, engaged in foreign exchange money changing business, for a 50.1% stake.
FCH will also invest Rs 25 crore into a new joint venture company, Centrum Wealth Managers, for a 50.1% stake. Centrum Capital’s existing retail broking, portfolio management and financial products distribution businesses will be moved into Centrum Wealth Managers
The net profit of Centrum Capital surged 637.9% to Rs 8.56 crore on 278.3% jumpe in operating income to Rs 16.76 crore in Q3 December 2007 over Q3 December 2006.
Centrum Capital's principal activity is to arrange credit financing.
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