Rs 3.36 multibagger penny stock with 8,300 per cent returns hit upper circuit & 52-week high; Board likely to announce rights issue!
The stock gave multibagger returns of 185 per cent in just 1 year; 6,620 per cent in 2 years and a whopping 8,300 per cent in 3 years.
Today, the stock market is trading in green with the BSE Sensex Index up 0.18 per cent and the NSE Nifty-50 Index up 0.17 per cent. Along with the market in green, shares of Standard Capital Markets Ltd gained 5 per cent to Rs 3.36 per share from its previous closing of Rs 3.20. The stock also made a fresh new 52-week high is Rs 3.36 per share while its 52-week low is Rs 1.15 per share.
inform your good office that a meeting of the Board of Directors of Standard Capital Markets Limited (the Company) is scheduled to be held on February 27, 2024, inter alia, to consider the issuance of one or more instruments including equity shares/convertible securities either by way of preferential issue/rights issue/or any other mode as may be considered or as may be deemed fit and/or other modalities including determination of price thereon.
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 capitalisation of Rs 493.92 crore. The company has achieved a remarkable profit growth of 100 per cent CAGR over the last 5 years.
Standard Capital Markets established a wholly-owned subsidiary, Standard Capital Advisors Limited, to operate as a merchant bank. This new entity, managed by CFO Mr Akash Bhatia, will assist companies with managing, registering, and launching offerings of various financial instruments like shares, debentures, and certificates. Standard Capital Markets retains full subsidiary ownership, expanding its reach into merchant banking activities.
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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 185 per cent in just 1 year; 6,620 per cent in 2 years and a whopping 8,300 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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