Multibagger penny stock below Rs 2 likely to announce special dividend, preferential issue, rights issue!

Standard Capital Markets Limited saw a significant increase in its stock price, jumping from Rs 0.04 to Rs 1.91 per share, resulting in multibagger returns of 4,675 percent in just 3 years. The company’s shares recently dropped by 1.04 percent to Rs 1.91 per share, with an intraday high of Rs 1.93 and a low of Rs 1.86. Its 52-week range is between Rs 3.52 and Rs 1.15.

The Board of Directors of Standard Capital Markets Limited is scheduled to convene on April 30, 2024, to discuss various matters, including the declaration of a special dividend as an interim dividend for the financial year 2023-24. This special dividend is a gesture of gratitude towards the shareholders for their continuous support and trust, which has been pivotal in the company’s growth. The Board will also determine the record date for the interim dividend and consider issuing financial instruments like equity shares or convertible securities.

Established in 1987, Standard Capital Markets Ltd is a Non-Banking Financial Company (NBFC) registered with the RBI. The company offers a range of financial services, including advisory, arbitration, due diligence, and commercial contract services. They have shown a robust track record with a recent 100 percent CAGR profit growth over the last 5 years. Standard Capital Markets Ltd recently acquired KRV Brooms Private Limited, a manufacturer of housekeeping items, to diversify its business operations.

Quarterly results show a substantial increase in net sales, operating profit, and net profit for the company. The company also underwent a 2:1 bonus share and stock split, leading to a surge in stock price. The promoters own 17.74 percent of the company, while the public holds the remaining 82.26 percent. The article concludes with a disclaimer stating that it is for informational purposes only and not investment advice.