India's Capri Global rises on receiving license for insurance business

Capri Global Capital

12/12/2023 04:58

** Shares of Capri Global Capital  CAPG.NS  rise as much as
4.5% to 798 rupees
    ** The non-banking financial company has received a license
from Insurance Regulatory And Development Authority Of India
(IRDAI) to set up insurance business
    ** Co says it expects to generate net insurance income of
about 200 mln rupees ($2.40 mln) in FY24-25
    ** CAPG trading above its 200-day simple moving average
since mid-May
    ** Stock on track to see smallest yearly gains in 4 years
    ** Stock last up 1.7%, bumping YTD gains to 9%



($1 = 83.3660 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))