Capital Trust has announced that it has received the approval from its board to undertake the business of micro finance. The board gave its approval for the same at its meeting held on January 22, 2010.

The scrip opened at its upper circuit and is at Rs 38.35 per share, up 1.80 points or 4.92% on the BSE compared to its previous close of Rs 36.55. Intraday, the counter has touched a high and a low of Rs 38.35 and Rs 38.30, respectively.

So far, 4,655 shares of the company were traded on the BSE.

The stock of the face value of Rs 10 touched its 52-week high of Rs 38.35 on February 19, 2010 and a 52-week low of Rs 5.82 on April 28, 2009.

Further, the company???s board has also approved to increase borrowing of the company up to the maximum limit of Rs 200 crore, for the expansion of its new micro finance business. 

The company is seeking the approval of its shareholders for the aforesaid purposes.

Capital Trust has been one of the pioneers in offering consultancy services to foreign banks. The company is engaged in offering wide range of financial services, merchant banking services, leasing, hire purchase, bill discounting, etc.

The promoters of the company held 69.09% stake in the company at the end of December 2009 while others held 30.91% stake.