Shares of Capacite Infraprojects rose 3.17% on Wednesday’s trades to reach a fresh 52-week high of ₹ 211.75 apiece on the Bombay Stock Exchange (BSE). This happened after European Investment Firm Societe Generale bought its shares in a bulk deal.
Capacite Infraprojects is engaged in the EPC business and provides turnkey solutions for housing, high rises, super high rises, speciality buildings and urban infrastructure. It offers these services to leading real estate and government bodies in India.
Ace investor Mukul Agrawal holds a 1.91% stake or 13,00,000 shares in the company, as per its latest shareholding pattern.
According to the data available on the BSE, Societe Generale bought 24,17,500 shares or a 3.5 percent stake in the company at an average price of ₹ 190.00 apiece on June 13, 2023. This takes the total deal value to ₹ 45.93 crores.
On the other hand, another company Newquest Asia Investments II sold 32 lakh shares or a 4.7 percent stake at an average price of ₹ 190.04.
The company’s shares gained 26% in a short span of time, since June 02, 2023, and that might be a reason why a few investors might have booked partial profits. As a result, at 02:36 PM, the company’s shares were trading at ₹ 206.75 apiece, lower than their intraday high.
The company recently announced plans to raise ₹ 96.30 crores through a preferential issue of equity shares. It plans to utilize the raised funds to support the company’s long-term working capital requirements.
Capacite Infraprojects is a small-cap company with a market capitalization of ₹ 1,394 crores. It has a low return on equity of 9.35%, but an ideal debt-to-equity ratio of 0.34. Its shares were trading at a price-to-earnings ratio (P/E) of 14.88 which is higher than the industry average of 8.50, indicating that the stock might be overvalued as compared to its peers, or investors are willing to pay a higher price for its earnings.
Written by Simran Bafna
