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2:1 bonus shares, 1:10 stock split in FY24: Multibagger penny stock reaches upper range after capital raising measure

2:1 bonus shares, 1:10 stock split in FY24: Shares of Standard Capital Markets Ltd are one of those penny stocks in the Indian stock market that are 2. The penny stock was traded ex-bonus and ex-split in the financial year 2023-24. A 2:1 bonus share means that the shareholder will get one additional share for every 2 shares held and a 1:10 stock split means that each share will be split into 10, effectively increasing the number of shares held. It was traded ex-bonus on December 29, 2023, to finalise the list of eligible shareholders for the issue of bonus shares in the ratio of 2:1. The ex-split traded on the same day will be used to ascertain the eligible shareholders for the issue of 1:10 stock split.

The small cap stock is also one of the multibagger stocks in India. The stock has given a return of 775 percent in a year. However, the multibagger penny stock is once again new. The board of the company has approved the fund raising proposal. Following the dissemination of this stock market news, the share price of Standard Capital Market witnessed a strong buying interest during Friday’s trades. The multibagger penny stock opened with an uptrend at 1.57 per share on the BSE and reached an intraday high of 41.58 apiece. While climbing to this intraday high, the multibagger penny stock saw a 5 percent increase from Thursday’s closing price. 1.51 per share. While the multibagger penny stock climbed to this intraday high, it also remained in the 5 percent upper range during Friday’s trading.

Details of Standard Capital Markets’ fundraiser

Informing the Indian stock exchanges about the approval of the fund raising by the company’s board of directors, the small-cap company stated, “Pursuant to the provisions of Regulation 29(1)(d) of the SEBI LODR Regulations, we would like to inform you that a board meeting of the Company will be held on Tuesday, July 2, 2024, inter alia, to consider and approve the fund raising proposal and any other business with the permission of the Chairman in accordance with the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.”

Standard Capital Market share price history

Within a month, Standard Capital Markets’ share price rose from 1.53 to 1.58, which represents an increase of around 3.50 percent during this period. In the last six months, Standard Capital Markets’ share price rose from 0.27 to 1.58 per unit, which represents an increase of around 500 percent during this time, can be attributed to (specific reasons like company performance, market conditions, etc.). Likewise, this multibagger penny stock has risen by 775 percent in a year.

Disclaimer: The views and recommendations above are those of individual analysts, experts and brokerage firms and not of Mint. We advise investors to seek advice from certified experts before making any investment decisions.

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