Multibagger penny stock under Rs 75 hit back-to-back upper circuits: Board announces bonus shares & stock split; PAT zooms over 2,500 per cent!

The stock gave multibagger returns of 450 per cent in 1 year and a whopping 5,000 per cent returns in 3 years.

Standard Capital Markets Ltd (BSE: 511700) announced a stock split and bonus issue to boost market liquidity, broaden its shareholder base, and make its shares more appealing to smaller investors. Effective December 29, 2023, each Rs 10 share will be subdivided into 10 shares of Rs 1 each, and shareholders will receive two bonus shares for every one share they hold. This two-pronged approach aims to invigorate trading activity, attract new investors, and potentially increase the company's stock price

Today, shares of Standard Capital Markets Ltd hit a 2 per cent upper circuit to Rs 73.59 per share from its previous closing of Rs 72.15 per share. The stock’s 52-week high is Rs 96 per share and its 52-week low is Rs 12.82 per share. In recent trading sessions, the stock has been hitting back-to-back upper circuits.

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 360 crore and has delivered good profit growth of 100 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 450 per cent in 1 year and a whopping 5,000 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.