Future Capital Holdings grabs investor attention on possible diversification
Future Capital Holdings spurted 16.16% to Rs 1055 at 13:06 IST on BSE on reports that the firm is set to launch hedge fund advisory business within three months. .
The financial services arm of the Future Group has an equity capital of Rs 63.23 crore. Face value per share is Rs 10.At the current price of Rs 1055, the scrip trades at a PE multiple of 1758.33, based on year ended March 2007 consolidated EPS of Rs 0.6.
Future Capital Holdings was listed on the stock exchanges on Friday, 1 February 2008. The stock debuted at Rs 1081 on BSE, a premium of 41.3% over the IPO price of Rs 765. The stock settled at Rs 908.20 on BSE, at a premium of 18.71% over IPO price.
According to reports, the company has hired Deepak Batliwalla from Principal PNB Mutual Fund to look after the new business. The group is also planning to foray into public equity investment advisory business and has hired S Srinivasan from Principal PNB Mutual Fund for heading the business, the reports suggested.
The reports also hinted about the group’s foray into mutual funds in time to come.
FCH is the financial services arm of the Future Group. It is currently in three primary businesses: investment advisory services, retail financial services, and research.
On a consolidated basis, FCH reported net loss of Rs 12.43 crore on total income of Rs 31.27 crore in 6 months ended 30 September 2007. It reported net profit of Rs 3.49 crore on total income of Rs 38.99 crore in the year ended 31 March 2007.
The financial services arm of the Future Group has an equity capital of Rs 63.23 crore. Face value per share is Rs 10.At the current price of Rs 1055, the scrip trades at a PE multiple of 1758.33, based on year ended March 2007 consolidated EPS of Rs 0.6.
Future Capital Holdings was listed on the stock exchanges on Friday, 1 February 2008. The stock debuted at Rs 1081 on BSE, a premium of 41.3% over the IPO price of Rs 765. The stock settled at Rs 908.20 on BSE, at a premium of 18.71% over IPO price.
According to reports, the company has hired Deepak Batliwalla from Principal PNB Mutual Fund to look after the new business. The group is also planning to foray into public equity investment advisory business and has hired S Srinivasan from Principal PNB Mutual Fund for heading the business, the reports suggested.
The reports also hinted about the group’s foray into mutual funds in time to come.
FCH is the financial services arm of the Future Group. It is currently in three primary businesses: investment advisory services, retail financial services, and research.
On a consolidated basis, FCH reported net loss of Rs 12.43 crore on total income of Rs 31.27 crore in 6 months ended 30 September 2007. It reported net profit of Rs 3.49 crore on total income of Rs 38.99 crore in the year ended 31 March 2007.
Labels: FCH, Future Capital Holdings, Future Capital Holdings diversification
posted by SY at 6:03 PM
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