Multibagger penny stock under Rs 5 with 5,000 per cent returns in green after company incorporation of a wholly owned subsidiary; PAT zooms over 1,200 per cent!
The stock gave multibagger returns of 195 per cent in just 1 year, 2,650 per cent in 2 years and a whopping 5,000 per cent in 3 years.
Today, the stock market is trading in red with the BSE Sensex Index down by 0.63 per cent and the NSE Nifty-50 Index down by 0.58 per cent. Though the market was in red, shares of Standard Capital Markets Ltd gained 2.26 per cent to Rs 2.71 per share from its previous closing of Rs 2.65 with an intraday high of Rs 2.75 and an intraday low of Rs 2.58. The stock’s 52-week high is Rs 3.32 per share and its 52-week low is Rs 0.84 per share.
The company Incorporation of a Wholly Owned Subsidiary Company in the name and style "Standard Capital Advisors Limited" or such other name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs. The company also appointed; Mr Akash Bhatia as Chief Financial Officer & Key Managerial Personnel of Standard Capital Markets Limited (the Company) with immediate effect.
The subsidiary is incorporated to carry on the business of merchant banking to act as managers, registrars, issue house to issues of shares, stocks, debentures, bonds, units, participation certificates, deposit certificates, notes, bills, warrants, commercial bills, bills of exchange, promissory notes, commercial paper of any company, corporation or association or any other instrument. The subsidiary's 100 per cent stake is owned by Standard Capital Markets Limited.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Standard Capital Markets Ltd, established in 1987, is a non-deposit, non-systemically important NBFC licensed by the Reserve Bank of India. It is classified as an NBFC-Investment and Credit Company (NBFC-ICC) and has a market capitalization of Rs 398 crore. The company has achieved a remarkable profit growth of 100 per cent CAGR over the last five years.
According to Quarterly Results, the net sales increased by 94.4 per cent to Rs 5.78 crore, operating profit increased by 243.7 per cent and net profit increased by 647.8 per cent to Rs 3.32 crore in Q3FY24 compared to Q3FY23 while the net sales increased by 272.2 per cent to Rs 16.70 crore and net profit increased by 1,203 per cent to Rs 8.20 crore in 9MFY24 compared to 9MFY23.
In its half-yearly results (H1FY24), the net sales surged 426 per cent to Rs 10.92 crore and net profit leapt 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.
According to the shareholding pattern, promoters of the company only own a 17.81 per cent stake while an 82.19 per cent stake is owned by the public. The stock gave multibagger returns of 195 per cent in just 1 year, 2,650 per cent in 2 years and a whopping 5,000 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
For more such updates on the go, Click here to join our WhatsApp Channel