Standard Capital Markets surges on getting nod to incorporate wholly owned subsidiary
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Standard Capital Markets is currently trading at Rs. 2.71, up by 0.06 points or 2.26% from its previous closing of Rs. 2.65 on the BSE.
The scrip opened at Rs. 2.70 and has touched a high and low of Rs. 2.75 and Rs. 2.58 respectively. So far 161732 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 1 has touched a 52 week high of Rs. 3.32 on 16-Jan-2024 and a 52 week low of Rs. 0.84 on 16-Feb-2023.
Last one week high and low of the scrip stood at Rs. 2.75 and Rs. 2.49 respectively. The current market cap of the company is Rs. 389.55 crore.
The promoters holding in the company stood at 17.81%, while Non-Institutions held 82.19% in the company.
Standard Capital Markets has received approval to incorporate wholly owned subsidiary company in the name and style ‘Standard Capital Advisors’ or such other name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs.
The Subsidiary is incorporated to carry on the business of merchant banking to act as managers, registrars, issue house to issues of shares, stocks, debentures, bonds, units, participation certificates, deposit certificates, notes, bills, warrants, commercial bills, bills of exchange, promissory notes, commercial paper of any company, corporation or association or any other instrument. The board of directors of the Company at its meeting, held on February 13, 2024 considered and approved the same.
Standard Capital Markets is a Non Banking Financial Company.
