Back-to-Back Upper Circuit! NBFC Stock Hits Upper Price Band on Fund Raising Plans

back-to-back upper circuit! nbfc stock standard capital hits upper price band on fund raising plans

Bombay Stock Exchange (BSE)-listed stock Standard Capital Markets share price hit the upper price band of 5 per cent in Monday's trading session. This is the second consecutive day when the NBFC stock hit the upper circuit limit of 5 per cent. During the last trading session on Friday, the stock hit a similar 5 per cent upper price band. When the share hit upper circuit limit or lower circuit limit, the trading is halted temporarily on the exchanges to curb the panic selling or buying.

The sharp uptick in the price movement was witnessed amid company's fund razing buzz. The smallcap company informed the shareholders through an exchange filing that a meeting of the board of directors of the company will be held on Tuesday, July 2 to consider and approve the proposal of fundraising.

The counter has been gaining for the last three days and has risen 11.49 per cent returns in the period. It is moving higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

According to the data available on the BSE, the counter has delivered multibagger returns of 1733.33 per cent in just two years. The scrip moved higher by 4025.00 per cent in the last three years, making investors richer with gains.

Incorporated in 1987, Standard Capital Markets Ltd is in the business of Non-banking Financial activities. The company is expected to give good quarter. It has delivered good profit growth of 173 per cent CAGR over last 5 years.