2:1 Bonus Share & 10:1 Stock Split in FY24: Multibagger Penny Stock at Rs 1.59 with 3,000 per cent returns; Board allots NCDs worth Rs 2,64,80,00,000
The stock gave multibagger returns of over 3,000 per cent in 3 years.
Standard Capital Markets Limited announces that its Board of Directors approved the allotment of 2,648 secured, unrated, unlisted Non-Convertible Debentures (NCDs) on July 30, 2024. Each NCD has a face value of Rs 10,00,000, totalling Rs 2,64,80,00,000, issued through a private placement as per the previously disclosed plans and in compliance with SEBI LODR regulations.
Earlier, the company announced a strategic partnership with Paisalo Digital Limited, a financial services firm dedicated to expanding financial inclusion in rural India. This collaboration underscores SCML's commitment to driving innovation and economic growth in underserved regions by bridging the financial gap. Through this investment, SCML aims to empower Paisalo Digital in expanding its reach and enhancing its digital platform, ensuring seamless access to essential financial services for rural communities. The partnership also holds the potential to introduce more tailored and competitive financial products, including flexible lending options for borrowers, leveraging SCML's expertise in technology and innovation.
Today, the shares of Standard Capital Markets Ltd gained 1.27 per cent to Rs 1.59 per share from its previous closing of Rs 1.57 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 1.15.
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About Standard Capital Markets Ltd
Established in 1987, Standard Capital Markets Ltd is a NBFC company registered with the RBI. They offer a variety of financial services including advisory (negotiations, project identification etc.), arbitration & mediation, due diligence, commercial contract services (drafting agreements etc.), litigation assistance, and even licensing (company incorporation, import/export licenses etc.). With a strong track record, the company established a wholly-owned subsidiary, Standard Capital Advisors Limited, to expand its reach into merchant banking activities.
The company's financial performance has been on a steep upward trajectory. In FY24, net sales shot up by 143 per cent to Rs 27.40 crore and net profit skyrocketed 380 per cent to Rs 10.71 crore compared to FY23. Looking at the annual results (Q4FY24), net sales jumped a significant 200 per cent to Rs 10.7 crore and net profit witnessed a remarkable 58 per cent growth to Rs 2.52 crore compared to Q4FY23.
The company's shares undergo a 2:1 bonus share and stock split from Rs 10 to Rs 1 on the ex-date i.e., December 29, 2023. According to the shareholding pattern, promoters of the company only own a 14.86 per cent stake while an 85.13 per cent stake is owned by the public as of June 2024. The stock gave multibagger returns of over 3,000 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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