Standard Capital Markets Faces Severe Decline Amid Broader Market Resilience

Standard Capital Markets has experienced significant volatility, hitting a new 52-week low of Rs. 0.59 today. The stock has underperformed its sector by 1.92% and has seen a consecutive decline over the past two days, resulting in a total drop of 4.76%. Currently, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. In the broader market context, the Sensex has shown resilience, climbing 188.30 points to reach 74,796.96, despite trading below its 50-day moving average. Small-cap stocks are leading the market, with the BSE Small Cap index gaining 1.5%. Over the past year, Standard Capital Markets has faced a staggering decline of 71.22%, contrasting sharply with the Sensex's modest gain of 2.82%. The company has reported operating losses, with a profit before tax of Rs. -37.63 crore and a profit after tax of Rs. -44.93 crore for the latest quarter. Additionally, promoter confidence appears to be waning, as their stake has decreased by 0.97% in the last quarter, now standing at 13.89%.