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Back-to-back upper circuits in this multibagger penny stock below 3; Board allocates 98,00,02,000 fully paid-up bonus equity shares!
Kiran Shroff
/ Categories: Trending, Penny Stocks

Back-to-back upper circuits in this multibagger penny stock below 3; Board allocates 98,00,02,000 fully paid-up bonus equity shares!

The stock gave multibagger returns of 275 per cent in 1 year and a whopping 6,975 per cent returns in 3 years.

Today, shares of Standard Capital Markets Ltd hit a 2 per cent upper circuit to Rs 2.83 per share from its previous closing of Rs 2.78 per share. The stock’s 52-week high is Rs 3.17 per share and its 52-week low is Rs 0.76 per share. In recent trading sessions, the stock has been hitting back-to-back upper circuits.

Established in 1987, Standard Capital Markets Ltd operates as a non-deposit, non-systemically important NBFC licensed by the Reserve Bank of India. Classified as an NBFC-Investment and Credit Company (NBFC-ICC), the company holds a market capitalisation of Rs 416 crore. It has achieved remarkable profit growth of 100 per cent CAGR over the last five years.

The company is rewarding shareholders with a double bonanza: two bonus shares for everyone currently held, plus a ten-for-one stock split, effectively multiplying the number of shares each shareholder owns by fifteen. The ex-bonus & ex-split were executed Friday, December 29, 2023, shareholders will see their holdings significantly increased, though the overall value of their investment remains unchanged.

The company informed that the Board of Directors of the company at their meeting held today i.e., January 02, 2024, has allotted 98,00,02,000 fully paid-up bonus equity shares of Rs 1 each in the ratio 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 i.e. December 29, 2023.

The Bonus Equity Shares allotted as above shall rank pari-passu in all respects and carry the same rights as the existing equity shares of the company including dividends and other corporate benefits, if any, declared by the Company after the said allotment.

Paid-up share capital (Pre-Bonus Issue) - 49,00,01,000

Paid-up share capital (Post-Bonus Issue) - 1,47,00,03,000

Standard Capital Markets Ltd. saw explosive growth in Q2FY24, with net sales skyrocketing 298 per cent to Rs 5.65 crore and net profit soaring 1,457 per cent to Rs 2.31 crore, compared to Q2FY23. This momentum continued in H1FY24, with net sales surging 426 per cent to Rs 10.92 crore and net profit leaping 2,560 per cent to Rs 4.90 crore, year-over-year. The impressive trend extended to FY23, where net sales jumped 2,093 per cent to Rs 8.05 crore and net profit galloped 2,584 per cent to Rs 2.23 crore, compared to FY22.

The stock gave multibagger returns of 275 per cent in 1 year and a whopping 6,975 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.

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

DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.

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