Multibagger penny stock under Rs 60 with 4,000 per cent returns: Board announced bonus shares & stock split; scrip hit upper circuit!

The stock gave multibagger returns of 690 per cent in 1 year and a whopping 4,000 per cent returns in 5 years.

Standard Capital Markets Ltd (BSE Scrip Code: 511700) informed that the Board of Directors of the company have approved issuing bonus shares and implementing a stock split to enhance liquidity in the capital market, expand the shareholder base, and make the shares more accessible to smaller investors. The specific record date for these actions will be determined within two months of the announcement. Here are the details:

Stock Split: Sub-division of 1 equity share of the face value of Rs 10 each fully paid-up to 10 equity shares of the face value of Rs 1 each fully paid-up.

Bonus Shares: Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of Rs 1 each for every 1 equity share of Rs 1 each held by the shareholders of the company as on the record date.

Today, shares of Standard Capital Markets Ltd hit a 2 per cent upper circuit to Rs 56.68 per share from its previous closing of Rs 55.57 per share. The stock’s 52-week high is Rs 96 per share and its 52-week low is Rs 6.85 per share.

Incorporated in 1987, Standard Capital Markets Ltd is in the company is a non-deposit non-systematically Important NBFC registered with the Reserve Bank of India (RBI). It is classified as an NBFC-Investment and Credit Company (NBFC-ICC). The company has a market cap of Rs 277.73 crore and has delivered good profit growth of 95 per cent CAGR over the last 5 years.

Results: According to the Quarterly Results, the net sales increased by 298 per cent to Rs 5.65 crore and the net profit increased by 1,457 per cent to Rs 2.31 crore in Q2FY24 compared to Q2FY23. According to the half-yearly results, the net sales increased by 426 per cent to Rs 10.92 crore and the net profit increased by 2,560 per cent to Rs 4.90 crore in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 2,093 per cent to Rs 8.05 crore and net profit increased by 2,584 per cent to Rs 2.23 crore in FY23 compared to FY22.

The stock gave multibagger returns of 690 per cent in 1 year and a whopping 4,000 per cent returns in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.