2:1 Bonus Share & 10:1 Stock Split in FY24: Multibagger Penny Stock at Rs 1.60 hit upper circuit today; Earlier, company announced strategic partnership with Paisalo Digital Ltd
The stock gave multibagger returns of over 3,100 per cent in 3 years.
Today, the shares of Standard Capital Markets Ltd gained 5 per cent to Rs 1.60 per share from its previous closing of Rs 1.53 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 1.15.
Earlier, the company announced that SCML join hands with Paisalo Digital Limited, a pioneering financial services company dedicated to enhancing financial inclusion in rural India. This investment underscores SCML's commitment to upgrade innovative solutions that bridge the financial gap and promote economic growth in underserved regions.
SCML's investment will enable Paisalo Digital to expand its reach and impact, providing more rural communities with access to essential financial services. Leveraging SCML's expertise in technology and innovation, Paisalo Digital will enhance its digital platform, ensuring seamless and efficient service delivery. This association also involves potentially offering more targeted and competitive products including more flexible lending criteria for borrowers.
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.
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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 3,100 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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