Capri Global shares zoom 20% as stock trades ex-split, ex-bonus

Shares of Capri Global Capital Ltd rose sharply in Tuesday's trade as the stock turned ex-date for a stock split and a bonus issue for the eligible shareholders. The company has declared a stock split in a ratio of 1:2 and a bonus issue in a ratio of 1:1.

The stock surged 20 per cent to hit its upper price band of Rs 289.40. Around 1.08 lakh shares were seen changing hands on BSE. The figure was higher than the two-week average volume of 14,000 shares. Turnover on the counter came at Rs 3.04 crore, commanding a market capitalisation (m-cap) of Rs 23,263.31 crore.

Capri Global, in an exchange filing, said: "The Board of directors at its meeting held on January 27 has approved sub-division of one equity share of the face value of Rs 2 each fully paid-up into two equity shares of the face value of Re 1 each fully paid-up."

"The board also approved 1:1 bonus issue, i.e, one new fully paid-up bonus equity share of face value of Re 1 each for every one fully paid-up equity share of face value of Re 1," the filing added.

The counter's 14-day relative strength index (RSI) came at 74.66. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a negative price-to-equity (P/E) ratio of 104.56 against a price-to-book (P/B) value of 5.77. Earnings per share (EPS) came at 9.23 with a return on equity (RoE) of 5.52.

As of December 2023, promoters held 69.89 per cent stake in the company.