Shares of this multibagger penny stock under the ‘micro-cap’ category hit the 2 percent upper circuit after the company reported robust financial results for Q3FY23-24, viz, for the quarter ended December 2023.
With a market capitalization of Rs 454.23 crores, the stocks of Standard Capital Markets Limited started their trading session on Wednesday at Rs 3.09 hitting the 2 percent upper circuit, and are currently locked at the same share price. In the past month, the company’s stock has gained over 30 percent for its stakeholders.
Such sharp movements in the company’s stock price were observed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
On a sequential basis, the company’s prime business indicators, i.e., operating revenues as well as after-tax profits, saw an upside movement with the former increasing from Rs 5.65 crores during Q2FY23-24 to Rs 5.78 crores during Q3FY23-24, and, the latter, keeping the timeframe the same, shifted from Rs 2.31 crores to Rs 3.32 crores.
Moreover, the company, on a YoY basis, reported an increase in the abovementioned metrics with the operating revenues increasing from Rs 2.91 crores during Q3FY22-23 to Rs 5.78 crores during Q3FY23-24, and, the latter, keeping the timeframe the same, shifting from Rs 44.5 lakhs to Rs 3.32 crores representing an increase of around 655 percent.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of nearly 220 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.20 lakhs.
As per the latest shareholding pattern data available, the company’s Promoters hold a 17.83 percent stake followed by the Public (retail) investors holding the remaining 82.17 percent stake in the company.
Founded in 1987, Standard Capital Markets Limited is an NBFC company based in India that is engaged in the business of financing and sale/purchase of shares. The company offers various services, viz, advisory, arbitration, due diligence, drafting & pleading, litigation & licensing, etc.
Written by Amit Madnani
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