Capri Global Capital Limited observed a 2% increase in its shares, reaching Rs 778 in morning trade on December 12, following the company’s announcement of obtaining a corporate agency license from the Insurance Regulatory and Development Authority of India (IRDAI) for the initiation of an insurance business.
In an exchange filing on December 11, Capri disclosed its anticipation to generate a net insurance income of approximately Rs 20 crore in the fiscal year 2024-25. The company committed to investing around Rs 2-3 crore annually in the new business venture.
Despite a relatively subdued performance in the stock market over the last six months, with a modest 2% gain, Capri Global Capital’s latest move into the insurance sector has injected fresh momentum into its shares. As of 11:06 am, the shares were actively trading at ₹772.05, reflecting the market’s response to the company’s diversification strategy.
