Multibagger Penny Stock Below Rs 2 Announces Green Energy Funding To Foster EV Mobility Solutions

One of India's multibagger penny stocks is Standard Capital Markets. With a gain of 717.65% in only a year, the NBFC company is now a multibagger penny stock below Rs 2. Leading Non-Banking Financial Company (NBFC) Standard Capital has established a broad investment program to promote electric vehicle (EV) mobility solutions and renewable energy projects throughout India. The project will assist companies in implementing green energy solutions, resulting in a more affordable and sustainable energy environment. With a project size limit of Rs 50 lakh, this program makes sure companies can get the funding they require to implement sustainable energy solutions on a large scale.

Standard Capital's funding will offer vital funding for projects that install solar panels and other renewable energy systems, in keeping with India's expanding clean energy efforts. India has deployed more than 68 GW of solar capacity as of 2023, demonstrating the country's substantial progress in the renewable energy industry. This initiative is a component of the nation's broader plan to attain 500 GW of renewable energy capacity by 2030.

The primary objective of this project is to increase the affordability and accessibility of adopting green energy solutions by introducing Zero-Cost EMI financing with an interest-free repayment structure will be beneficial, especially for residential societies and educational institutions. Standard Capital is significantly advancing the green energy revolution in the residential and educational sectors by offering this service.

'This initiative will empower companies to reduce their carbon footprints, contributing to a greener economy while aligning with national energy goals' - Gaurav Jindal, Quicktouch MD.

Furthermore, Standard Capital is offering financial assistance to companies venturing into the electric vehicle (EV) mobility market. Since transportation emissions now make up 14% of all carbon emissions in India, the country's EV sector is essential to lowering transportation emissions. To overcome this, the shift to electric vehicles is essential, with the government aiming for a 30% EV adoption rate by 2030. By making this transformation, India is expected to cut its automobile emissions by around 35%, and by the same year, the EV industry is predicted to grow to $150 billion.

Standard Capital Markets Ltd., a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI), was established in 1987. Standard Capital Markets' net profit dropped 32.43% to Rs 1.75 crore in the quarter that ended in June 2024 from Rs 2.59 crore in the quarter that ended in June 2023. In the quarter that ended in June 2024, sales climbed 52.56% to Rs 8.04 crore, compared to Rs 5.27 crore in Q1FY24.