stocks of 5paisa Capital has jumped nearly 300 percent
Published On: Thursday, July 23, 2020 | By: Team KnowMyStock
stocks of 5paisa Capital has jumped nearly 300 percent from its March lows and has been a direct beneficiary of the surge in the number of retail investors amid the Covid-19 lockdown. It is the only listed company in the discount broking space. Analysts said it remains to be seen if the gains sustain going forward. The stock has risen 295 percent from its March lows, and it is up more than 83 percent on a year-to-date basis. It scaled its 52-week high of Rs 375.65 last Friday (17th July 2020).
While Nirmal Jain’s IIFL group-backed 5Paisa does not have a directly comparable listed peers, shares of companies such as ICICI Securities have also seen good bounce. The stock scaled a record high of Rs 568 last week and is up 31 percent so far this year. Last week, 5Paisa Capital reported a first-ever quarterly profit since its 2016 launch. It reported a bottom line of Rs 2.7 crore for the June quarter, compared with a Rs 55 lakh loss posted for the year-ago period. The company said income for the quarter rose 20 percent owing to improved trading activity by existing customers, a surge in new client acquisitions and higher cross-selling of financial products. At the same time, it managed to control expenses, recording just a 3 percent quarter-on-quarter growth.
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