Multibagger Penny Stock Under Rs 2 Hit 10 Per Cent Upper Circuit For Second Straight Trading Session; Here’s Why
From Rs 0.05 to Rs 1.67 per share, the stock gave multibagger returns of 3,200 per cent in 3 years.
Today, one of the Top Gainers on BSE, the shares of Standard Capital Markets Ltd were locked in a 10 per cent upper circuit to Rs 1.67 per share with a spurt in volume by more than 4 times from its previous closing of Rs 1.52 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 1.35.
Standard Capital, a leading NBFC, has launched a comprehensive funding program to support renewable energy and electric vehicle projects in India. The initiative aims to provide financial assistance to companies implementing green energy solutions, contributing to a more sustainable and cost-effective energy landscape.
Aligned with India's clean energy goals, Standard Capital's funding will support projects installing solar panels and other renewable energy systems. The initiative also includes Zero-Cost EMI financing for educational institutions and residential societies, making green energy adoption more accessible. India has made significant progress in the clean energy sector, with over 68 GW of solar capacity installed as of 2023. This substantial growth aligns with the country's ambitious target of achieving 500 GW of renewable energy capacity by 2030.
Each project under the initiative is valued at Rs 50 lakh, enabling companies to implement sustainable energy solutions at scale. Quicktouch, a participating company, plans to install solar panels in 10 educational institutions. By supporting renewable energy and EV mobility, Standard Capital is playing a crucial role in India's transition to a cleaner and more energy-efficient future.
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About Standard Capital Markets Ltd
Established in 1987, Standard Capital Markets Ltd is a NBFC company registered with the RBI. They offer a variety of financial services including advisory (negotiations, project identification etc.), arbitration & mediation, due diligence, commercial contract services (drafting agreements etc.), litigation assistance, and even licensing (company incorporation, import/export licenses etc.). With a strong track record, the company established a wholly-owned subsidiary, Standard Capital Advisors Limited, to expand its reach into merchant banking activities.
The company's shares undergo a 2:1 bonus share and stock split from Rs 10 to Rs 1 on the ex-date i.e., December 29, 2023. According to the shareholding pattern, promoters of the company only own a 14.86 per cent stake while an 85.13 per cent stake is owned by the public as of June 2024. From Rs 0.05 to Rs 1.67 per share, the stock gave multibagger returns of 3,200 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.