1:10 Stock Split, 2:1 Bonus Issue: Finance Stock Soars 32% In 30 Days, Record Date Soon

Small cap stock from the finance sector Standard Capital Markets Ltd shares witnessed a rally of nearly 32% after recommending 1:10 stock split and 2:1 bonus issue. Current market price of Standard Capital share on BSE is Rs 75.00 per share with intraday gain of 1.96%. Standard Capital shares 243% year-to-date and rallied 381% in last 1-year span. Check details below:

Standard Capital Share Performance & Return: The stock's 52-week high price is Rs 96.00 per share and 52-week low price is Rs 15.57 apiece, respectively. The company has a market capitalisation of Rs 367.50 crore. Standard Capital shares gained 3976% in last 2-years, gained 5374% in last 3-years, and offered return of 5414% in last 5-years. Standard Capital shares opened at 74.00 apiece, touched day's high of Rs 75.00 per share, and day's low of Rs 74.00 per share, respectively. Standard Capital shares witnessed spurt in volume by more than 1.17 times today, traded lower circuit yesterday, and upper circuit on December 20.

Standard Capital Sets Record Date For 1:10 Stock Split, 2:1 Bonus Issue: The Company decided to fix Friday the 29th December 2023 as the Record date for the Purpose of Sub Division of Equity Share and Bonus Issue. Earlier, as per the November 24, 2023 BSE filing issued by the company, "Board of Directors of the Company at their meeting held today i.e., Friday, November 24, 2023, has, inter alia, considered and approved the following items of agenda, subject to the approval of Shareholders in ensuing Extra Ordinary General Meeting:

Sub-division of 1 (One) Equity share of face value of Rs 10/-(Rupees Ten only) each fully paid-up to 10 (Ten) Equity shares of the face value of Re 1 (Rupee One only) each fully paid-up. Details as per the SEBI circular is enclosed as Annexure I.

Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of Re 1/- each for every 1 Equity Share of Re 1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the Company by Extraordinary General Meeting."

Standard Capital Financials: The company for the quarter ended September 30, 2023 declared its standalone total income at Rs 5.65 crore, up 2.47% from preceding quarter total income of Rs 5.52 crore. The company declared its net profit after tax at Rs 2.31 crore in the latest quarter.

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 bonus, stock split 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.