Penny stock under Re 1: NBFC to foray into alternate investment fund biz with ₹50 crore initial investment

News Snapshot:

Penny stock under Re 1: Standard Capital Markets Limited announced on Saturday, March 8, that it conducted its board meeting. The members decided that the non-banking financial company (NBFC) would foray into the alternate investment fund (AIF) business with an initial investment of ₹50 crore. The NBFC's wholly-owned subsidiary, Standard Capital Advisors Ltd, will be the AIF's investment manager, looking after the assets and investments of the AIF fund business. In addition, the NBFC's board made a slew of other decisions. "….The company's Board of Directors, at their meeting held today, i.e., March 8, 2025, have, inter alia, considered and...