Standard Capital Markets, a Mumbai-based financial services firm, hits upper circuit for the third consecutive session after announcing the allotment of preferential shares and raising funds through NCDs. The company is optimistic about its long-term growth prospects.
Standard Capital Markets, a Mumbai-based financial services company, has witnessed a surge in its stock price, hitting the upper circuit for the third consecutive session. This spike in the stock price comes after the company announced the allotment of preferential shares.
On January 20, 2025, Standard Capital Markets’ share price opened at ₹0.96, marking a 5% increase from the previous close of ₹0.92. Following this upward movement, the stock continued trading at similar levels, hitting the upper price band for the third straight session.
The gains have been attributed to recent developments within the company. According to a release from January 17, 2025, Standard Capital Markets’ Board of Directors approved the allotment of 4,500 unrated, unlisted, secured Non-Convertible Debentures (NCDs), each valued at ₹1,00,000, amounting to a total of ₹45 crore. This private placement of NCDs is expected to boost the company’s operations and financial position.
Standard Capital Markets, which faced a decline in its stock price in 2024, had seen its share price drop from ₹3.52 in February 2024 to ₹0.81 by January 2025. However, the latest developments are helping the company regain momentum.
The company had previously announced an investment of ₹71 crore (₹0.71 billion) in improving its operations and infrastructure. This follows the successful offering of ₹500 crore in NCDs and the allocation of ₹201 crore to further enhance operational capabilities.
In its press release, Standard Capital Markets expressed optimism about the long-term impact of these strategic investments. The company aims to foster innovation, growth, and increased shareholder value, with a strong focus on creating long-term value for both customers and stakeholders.
As the company’s stock hits upper circuits for the third straight day, investors remain hopeful about its recovery and future prospects in the market.
