Ugro Capital rose 3.19% to Rs 95.50 after the company said it received Corporate Agency license (Composite) from the Insurance Regulatory and Development Authority of India (IRDA) on 25 September 2020. Under the said license, the company shall be entitled to tie up with life and general insurance companies […]
Ugro Capital rose 3.19% to Rs 95.50 after the company said it received Corporate Agency license (Composite) from the Insurance Regulatory and Development Authority of India (IRDA) on 25 September 2020.
Under the said license, the company shall be entitled to tie up with life and general insurance companies to distribute their insurance products in line with various directions/guidelines issued by IRDA.
The scrip has surged 28.01% from its 52-week low of Rs 74.60 hit on 24 March 2020. The announcement was made post trading hours on Friday, 25 September 2020.
On a standalone basis, Ugro Capital reported net profit of Rs 3.73 crore in Q1 June 2020 compared with net loss of Rs 1.84 crore in Q1 June 2019. Total income surged 76.5% to Rs 30.79 crore in Q1 June 2020 over Q1 June 2019.
Ugro Capital a non-banking finance company which is engaged in dealing in shares and securities. The firm is also involved in share trading activity, securities trading activities & offering and receiving loans from the company.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.