Multibagger Penny Stock Under Rs 2, Hit 10 Per Cent Upper Circuit On October 18; Here’s Why
From Rs 0.06 to Rs 1.15 per share, the stock gave multibagger returns of 1,800 per cent in 3 years.
Today, one of the Top Gainers on BSE, the shares of Standard Capital Markets Ltd hit a 10 per cent upper circuit to an intraday high of Rs 1.15 per share from its previous closing of Rs 1.05 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 0.97.
The sudden rise in the stock price is due to the Standard Capital Markets Limited having taken a significant step towards transforming education in India with its innovative zero-cost EMI scheme for interactive flat panels (IFPs). This initiative provides schools and educational institutions with the opportunity to equip their classrooms with modern technology without incurring additional financial burdens. By replacing traditional chalkboards with IFPs, schools can not only reduce their reliance on consumables but also improve the health and well-being of students. The shift to digital learning aligns with the growing trend of online education in India, driven by increasing internet access and government support.
Standard Capital's investment in this venture not only offers financial benefits for the company but also contributes to social impact. The firm's commitment to providing affordable financial solutions enables schools to access cutting-edge technology, thereby enhancing the learning experience for students and teachers. This initiative is a testament to Standard Capital's dedication to fostering a better future through education and building a stronger educational infrastructure for generations to come.
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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 has a market cap of Rs 198.95 crore and has delivered good profit growth of 173 per cent CAGR over the last 5 years. 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. From Rs 0.06 to Rs 1.15 per share, the stock gave multibagger returns of 1,800 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.