Stock Report

Standard Capital Markets Ltd board approves stock split, bonus issue

Posted On : 2023-11-25 11:25:48( TIMEZONE : IST )

Standard Capital Markets Ltd board approves stock split, bonus issue

The Board of Directors of Standard Capital Markets Limited at their meeting held on Friday, November 24, 2023, has, considered and approved the stock split and bonus issue, subject to the approval of Shareholders in ensuing Extra Ordinary General Meeting.

The board approves increase in the Authorized Share Capital of the Company from ₹ 100,00,00,000/- (Rupees Hundred Crore only), divided into 10,00,00,000 (Ten Crore) Equity Shares of ₹ 10/- (Rupees ten only) each to ₹ 150,00,00,000/- (Rupees One Hundred Fifty Crore only), divided into 15,00,00,000 (Fifteen Crore) Equity Shares of ₹ 10/- (Rupees Ten only) each, by creation of additional 5,00,00,000 (Five Crore) Equity Shares of face value of ₹ 10/- (Rupees Ten only) each and consequential alteration to the Capital Clause of the Memorandum of Association.

The board approved sub-division of 1 (One) Equity share of face value of ₹10/-(Rupees Ten only) each fully paid-up to 10 (Ten) Equity shares of the face value of ₹ 1 (Rupee One only) each fully paid-up.

The board considered and approved consequential amendment to the capital clause of the Memorandum of Association of Company.

The board also approved Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of ₹ 1/- each for every 1 Equity Share of ₹ 1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the Company by Extraordinary General Meeting.

Shares of STANDARD CAPITAL MARKETS LTD. was last trading in BSE at Rs. 55.57 as compared to the previous close of Rs. 56.70. The total number of shares traded during the day was 3053 in over 40 trades.

The stock hit an intraday high of Rs. 56.70 and intraday low of 55.57. The net turnover during the day was Rs. 170151.00.

Source : Equity Bulls