Penny Stock Under Rs 1 Surges 3.5% After Securing NCD Approval.of Rs 27 Cr

Standard Capital Markets Ltd shares had an increase of 3.5 per cent on Wednesday and reached an intraday high of Rs. 0.93 per share, moving from a previous closing of Rs. 0.90. The stock's 52-week high is Rs 3.52 and the 52-week low is Rs. 0.81.

The company has informed exchanges regarding the approval by the board of directors for the private allotment of 2,700 unrated, unlisted secured Non-Convertible Debentures (NCDs) on a private placement basis. Rs 27 crore will be issued in total as each NCD carries a face value of Rs 1,00,000. This action corresponds to the issuance hint provided earlier on October 24 and 30, November 12, December 20 and January 15, 17, 20, and 31. The money brought in through this issuance is intended to enhance the company's balance sheet position and facilitate its operational activities.

Standard Capital Markets has decided to distribute educational loans to over 500 new students across multiple locations in India. This is part of their ongoing social responsibility initiatives for this fiscal year. These loans focus on supporting students enrol in undergraduate, postgraduate, and other professional courses both within the country and internationally. The corporation also strives to empower students from engineering, medicine, management, law and arts through their sophisticated loan programs with rest-assured funding through stringent repayment plans and minimized paperwork.

Over the last three years, the company share is up from Rs 0.09 to Rs 0.90 per share at an astounding 900% growth which translates to multibagger returns. Currently, Standard Capital Markets has a market cap of Rs 156 crores. The company has shown profit growth achieving 173% CAGR in 5 years.

Standard Capital Markets Ltd was incorporated in 1987 and is registered with RBI. The company functions as a non-banking financial institution (NBFC) which goes beyond the scope of conventional banking by providing a variety of financial services including advisory services, arbitration, legal due diligence, legal representation, and training and licensing. The firm has also set up a wholly owned subsidiary Standard Capital Advisors Limited which is engaged in merchant banking. Evolving through impressive comprehensive financial services and significant educational financing, Standard Capital Markets is dedicated to providing precise customer-centric solutions while maintaining a standard of integrity and innovation.