Multibagger penny stock Standard Capital Markets has surged by 717.65% in just one year, currently trading below Rs 2. The leading non-banking financial company (NBFC) has initiated a comprehensive investment program aimed at enhancing electric vehicle (EV) mobility solutions and renewable energy projects across India. This initiative will enable companies to adopt green energy solutions, fostering a more sustainable energy environment.
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With a project funding limit of Rs 50 lakh, this program ensures that businesses receive necessary financial backing for large-scale sustainable energy implementations. Standard Capital’s funding will be pivotal in supporting the installation of solar panels and other renewable systems, aligning with India’s push for clean energy. As of 2023, India boasts over 68 GW of solar capacity, reflecting its commitment to expanding renewable energy.
A key aspect of this initiative is the introduction of Zero-Cost EMI financing, which features an interest-free repayment structure. This approach is particularly advantageous for residential communities and educational institutions, significantly promoting the adoption of green energy solutions within these sectors.
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Additionally, Standard Capital is providing financial assistance to businesses entering the EV mobility market. With transportation emissions accounting for 14% of India’s total carbon emissions, the transition to electric vehicles is crucial for reducing these figures. The government aims for a 30% EV adoption rate by 2030, projecting a reduction of approximately 35% in automobile emissions.
Founded in 1987 and registered with the Reserve Bank of India (RBI), Standard Capital Markets Ltd. reported a 32.43% decline in net profit, falling to Rs 1.75 crore in Q1 FY24 from Rs 2.59 crore the previous year. However, sales surged by 52.56% to Rs 8.04 crore, compared to Rs 5.27 crore in the same quarter last year. The company’s commitment to green energy funding underscores its role in driving India’s renewable energy and EV sectors forward.
