Penny Stock Under Re 1 Hit Upper Circuit on April 01; Company Establishes a Wholly-Owned Subsidiary for Middle East and African Markets
The stock gave multibagger returns of 563 per cent in 3 years and 1,225 per cent in 5 years.
Today, shares of Standard Capital Markets Ltd hit a 5 per cent upper circuit to Rs 0.54 per share from its previous closing of Rs 0.52 per share. The stock’s 52-week high is Rs 2.07 per share and its 52-week low is Rs 0.49 per share.
Standard Capital Markets Ltd, an NBFC established in 1987 and registered with the RBI, offers a comprehensive suite of financial services beyond traditional banking. These include advisory services, arbitration, due diligence, legal assistance, and licensing support. To further expand its reach, the company established a wholly owned subsidiary, Standard Capital Advisors Limited, specializing in merchant banking activities.
Standard Capital Markets Limited (SCML) plans to establish a wholly-owned subsidiary in the Dubai International Financial Centre (DIFC) to expand its trade finance, invoice discounting, and project finance services in the Middle East and African markets, aiming to diversify its portfolio and operational footprint beyond India. This strategic move, pending Reserve Bank of India (RBI) approval, seeks to capitalize on the rising demand for trade finance solutions in these high-growth regions, providing clients with comprehensive and innovative financial products for cross-border trade, optimized working capital, and risk management.
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According to Quarterly Results, the net sales increased by 106 per cent to Rs 20.28 crore in Q3FY25 compared to net sales of Rs 9.84 crore in Q2FY25. The company reported a net loss of Rs 45.10 crore in Q3FY25 compared to a net loss of Rs 0.70 crore in Q2FY25. The company reported net sales of Rs 38.16 crore and a net loss of Rs 44.05 crore in 9MFY25 while the company reported net sales of Rs 27.39 crore and a net loss of Rs 10.71 crore in FY24.
The company has a market cap of Rs 93.42 crore and has delivered good profit growth of 173 per cent CAGR over the last 5 years. According to the shareholding pattern, promoters of the company only own a 13.89 per cent stake while the public owns an 86.11 per cent stake as of December 2024. The stock gave multibagger returns of 563 per cent in 3 years and 1,225 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.