1:10 Split, 2:1 Bonus Shares: Multibagger NBFC Penny Stock Issues Acquisition Update

Small cap company from the NBFC sector, Standard Capital Markets Ltd on March 29, 2024 informed via its BSE filing that its Board of Directors have approved acquisition of 100% stake in KRV Brooms Private Limited. Last trading price of Standard Capital Markets shares on BSE is Rs 1.61 apiece with intraday fall of 4.73%.

The stock has been hitting several lower circuits in last few days and shares fell 50% in last 1-year. Check details pertaining to Standard Capital Markets below:

Standard Capital Markets Makes Announcement On Acquisition: As per the regulatory filing of the company dated March 29, 2024, "The Board of Directors of Standard Capital Markets Limited ("the Company"), in its meeƟng held on Friday, March 29, 2024, have approved the acquisiƟon of 100% stake in KRV Brooms Private Limited and made it a Wholly Owned Subsidiary of the Company, a Company incorporate in India."

Standard Capital Markets Shares Performance & Return: The 52-week high price of Standard Capital Markets shares on BSE is Rs 3.52 apiece and 52-week low price is Rs 1.15 apiece, respectively. The company's market capitalisation is Rs 236.67 crore. Standard Capital Markets shares declined 38% in last 3-months, gave return of 1912% in last 2-years, and offered return of 3925% in last 3-years. In last 5-years, Standard Capital Markets stock gave return of 3925%.

Standard Capital Markets Bonus Share, Stock Split In 2023: Previously, Standard Capital on November 24 announced 1:10 stock split and 2:1 bonus shares. The ex-bonus and ex-split date was fixed as 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 acquisition update 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.