Penny stock below Re 1 hits upper circuit despite volatile trends on D-street

Stock Market Today: Penny stock below Re 1, Standard Capital Markets, hit the upper circuit limit on Thursday, March 6.

The penny stock below Re 1 opened at ₹0.67 on the BSE on Thursday, which was significantly higher than the previous close of ₹0.65. Standard Capital share price thereafter rose to ₹0.68, which translated into gains of almost 5%. The upper price for Standard Capital Markets share price also stood at ₹0.68.

Standard Capital Markets' share price had hit a 52-week or 1-year low of ₹0.63 a few days back on 4 March 2025, however, the stock is now rebounding.

Standard Capital Markets share price gains are now being led by some positive developments. Standard Capital Markets intimated the exchanges of a meeting of the Board of Directors of Standard Capital Markets Limited.

Standard Capital Markets to consider a preferential issue

Standard Capital Markets' Board of Directors meeting scheduled to be held on March 08, 2025, is to consider a preferential issue. As per Standard Capital Markets press release board of directors will consider a proposal for issue of one or more instruments including Equity Shares/ convertible securities or warrants on preferential basis, at such price will be considered and as may be determined in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, subject to such approvals as may be required and other agendas.

Standard Capital Markets also announced that the trading window for dealing in the securities of the Company shall remain closed with effect from today and shall remain closed till the expiry of 48 hours from the conclusion of the above-said meeting (scheduled on 8 March 2025).

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