Future Capital Holdings in demand

Future Capital Holdings gained 4.60% to Rs 572 at 12:52 IST on BSE after the company said its board has approved to invest upto Rs 47.75 crore in its subsidiary Future Finmart.

The company made this announcement after trading hours on Monday, 24 March 2008.

The stock hit a high of Rs 578.90 and a low of Rs 550.20 so far during the day. The stock had a 52-week high of Rs 1190 on 7 February 2008 and a 52-week low of Rs 435.55 on 17 March 2008.

The company’s current equity is Rs 63.23 crore. Face value per share is Rs 10.

The current price of Rs 572 discounts its year ended March 2007 EPS of Rs 0.60, by a PE multiple of 953.33.

Future Capital Holdings reported net profit of Rs 3.49 crore on total income of Rs 38.99 crore in the year ended 31 March 2007.

The investment in Future Finmart would be utilized towards enabling its business requirements in the area of retail financial services, the company said in a statement.

Future Capital Holdings is the financial services arm of the Future Group. It is currently in three primary businesses: investment advisory services, retail financial services, and research.