Penny stock below Re 1: NBFC stock hits upper circuit for second straight session. Do you own? | Stock Market News
Source: Live Mint
Penny stock below Re 1: NBFC stock Standard Capital Markets Limited hit upper circuit on Friday for 2nd straight session in a row.
The Standard Capital Markets share price opened at ₹0.90 around 2% higher than the previous close of ₹0.88 on the BSE on Friday. The Standard Capital Markets share price thereafter gained further to ₹0.92 levels translation into gains of close to 5%. Notably ₹0.92 also stood to be the upper circuit limit for the stock.b Thus Standard Capital Markets share price hit 5% upper circuit.
Standard Capital Markets share price from high of ₹3.52, has corrected to ₹0.81 in January this year and thereby is rebounding. The Standard Capital Markets share price has been on a downtrend during last one year.
Standard Capital Markets in its release on Thursday 16 January 2024 post market hours announced additional deployment of ₹0.71 Billion ( ₹71 crore) to enhance operations.
Standard Capital Markets said that In continuation of its previous press release dated 17th December 2024, Standard Capital Markets Limited, a prominent player in the Non-Banking Financial Company (NBFC) sector, is pleased toannounce an additional deployment of ₹0.71 billion towards itsoperations, complementing the earlier deployment of around ₹130 crore
This investment as per Standard Capital Markets comes as part of the company’s strategic initiatives following the successful issuance of ₹5 billion Non-Convertible Debentures (NCDs). The company has effectively raised and allocated ₹201 Crore towards further strengthening its operational infrastructure.
The focus of this deployment, as per the company, is on enhancing operational efficiency, scaling up capacity, and supporting the company’s overall growth trajectory.
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Standard Capital Markets Limited said that it remains confident that these strategic investments will position the company for sustainable growth, innovation, and enhanced shareholder value. The company’s leadership is committed to continuing its focus on long-term value creation for both its customers and stakeholders, , the press releae highligted.
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