The shares of one of the leading financial services company rose 13 percent to Rs 61.90 apiece on Tuesday after the company executed the sale of its subsidiary.
At 2:30 p.m., Arihant Capital Markets Ltd shares were trading at Rs 59.90 per share on the National Stock Exchange, up 9.31 percent from the previous close price. The company has a market valuation of Rs 619 crore.
According to the company’s exchange filing, The business completed the transfer of Arihant Institute of Financial Education Private Limited to Ahinsa Investment Advisers Private Limited. For an amount of Rs 58.75 lacs, as approved by the board members. The expected date of completion of the sale is up to 31st March 2024.
Arihant Capital Market revenue has increased by 23 percent year on year, from Rs 34 crore in Q1FY23 to Rs 42 crore in Q1FY24. During the same period, Net Profit has increased by 57 percent from Rs 7 crore to Rs 11 crore.
For the most recent fiscal year, the company reported a net profit margin of 20.94 percent and an operating margin of 34.72 percent, while the company’s debt-to-equity ratio is 0.23.
According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 74.12 percent stake, and retail investors hold a 25.67 percent stake in the company.
Arihant Capital Markets Limited is a leading stock broking company, it provides financial services like capital market brokerage, Merchant Banking and Investment Banking, Distribution of Mutual Funds, and other services.
Written by Omkar Chitnis
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