1:10 Stock Split, 2:1 Bonus Shares: Multibagger Penny Stock Gains On Acquisition Update

Shares of small cap penny stock Standard Capital Markets Ltd hit upper circuit in trade today on BSE after incorporation of a Wholly Owned Subsidiary Company in the name and style "Standard Capital Advisors Limited" or such other name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs. Current market price of Standard Capital Markets shares on BSE is Rs 2.99 apiece with intraday gain of 1.36%. Standard Capital Markets shares offered shareholders return of 137% in last 6-months and gained 3637% in last 2-years. Check details below:

Standard Capital Markets Issues Update On Acquisition: As per the BSE filing of the company dated Feb 13, 2024, "Standard Capital Advisors Limited or any name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs. Authorized Capital: Rs 5,00,00,000/- (Rupees Five Crores Only) divided into 50,00,000 equity shares of Rs 10/- each Turnover: Not Applicable since the Company is yet to be incorporated. The wholly owned subsidiary company once incorporated will be related party of the Standard Capital Markets Limited."

Standard Capital Markets Shares Performance & Return: The 52-week high price of Standard Capital Markets shares on BSE is Rs 3.32 apiece and 52-week low price is Rs 1.02 apiece, respectively. The company's market capitalisation is Rs 439.53 crore. Standard Capital Markets stock gained 193% in last 1-year and rallied 5880% in last 3-years.

Standard Capital Markets Bonus Share, Stock Split In 2023: Earlier, the company on November 24 declared 1:10 stock split and 2:1 bonus shares. The ex-bonus and ex-split date was December 29, 2023.

Standard Capital Financials: Standard Capital announced its Q3FY24 results where the net sales soared 94.4% to Rs 5.78 crore, operating profit jumped 243.7% and net profit zoomed 647.8% to Rs 3.32 crore in Q3FY24 compared to Q3FY23. The net sales rallied 272.2% to Rs 16.70 crore and net profit jumped 1,203% to Rs 8.20 crore in 9MFY24 compared to 9MFY23.

About The Company: Standard Capital Markets Limited, a Non-Deposit accepting NBFC, is a company conceived and nurtured by the promoter CA. Narender K. Arora, Manohar Lal Vij & Vijay Chaudhry. It provides a range of financial services, which includes lending of money to individuals and Small and Medium Sized Enterprises, with or without security, dealing in securities/shares of Companies, bonds and units investment in stock markets, according to its official website.

Disclaimer:

The stock just highlights the rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.