The stock market’s fluctuating business on Monday saw Standard Capital Markets operating at a steady level of 72.15 rupees per share without any changes. With a market cap of approximately 354 crores, the shares of Standard Capital Markets Limited hit a 52-week high of 96 rupees, while the low for 52 weeks stood at 13.46 rupees. Investors in Standard Capital Market shares have seen a 5% return in the past five days, a whopping 32% return in the last month, and a staggering over 230% return from the ₹22 lower level earlier this year.
Riding High on Returns
In the past year alone, investors have seen an astounding 436% return from the ₹13.46 level offered by Standard Capital Markets shares. Since January 17, 2019, these shares have yielded an extraordinary 5200% return, proving to be an incredibly lucrative investment for stakeholders.
Strategic Corporate Moves
The company, Standard Capital Markets Limited, disclosed on Monday, December 18, that an Extraordinary General Meeting was convened. Approval was granted to increase the company’s authorized share capital and modify the Memorandum of Association accordingly.
Moreover, approval has been granted for the subdivision of shares in all divisions of Standard Capital Markets Limited. Shares with a face value of ₹10 will be subdivided into 10 shares with a face value of ₹1. Additionally, the company has been sanctioned to issue bonus shares.
Future Plans Unveiled
The company informed the stock market that from Friday, December 29, its shares with a face value of ₹10 will be split into 10 shares with a face value of ₹1. Furthermore, an announcement has been made to distribute bonus shares to its investors. Notably, for each ₹1 face value share, two bonus shares with a ₹1 face value each will be issued.
Diverse Financial Offerings
Standard Capital Market is a financial services company engaged in various sectors such as personal loans, gold loans, loan syndication, working capital loans, and more. On November 25 last month, the company announced that its Board of Directors, alongside all divisions of its shares, decided to issue bonus shares.
During the Board of Directors meeting of Standard Capital, it was communicated that shares with a face value of ₹10 would be converted into 10 shares with a face value of ₹1, and bonus shares would also be issued to investors.
This move by Standard Capital Markets Limited indicates a strategic and investor-focused approach, promising substantial returns and advancements in the financial market landscape.
