NBFC Standard Capital announces additional investment to enhance operations - Details

According to an exchange filing by the company, Rs 209 crore will be deployed towards its enhancing operations. This is an addition to the previous deployment of Rs 201 crore.

"This additional investment is a key part of the company’s strategic initiatives, following the successful issuance of Rs 5 billion in non-convertible debentures (NCDs)," the company said.

"Having raised and allocated ₹5 billion, Standard Capital Markets is leveraging these funds to further strengthen its operational infrastructure, thereby positioning itself for increased returns in the upcoming quarter and enhancing its overall profitability,” the filing reads.

According to information available, the capital will be deployed into three focus areas, including enhancement of operational efficiency, capacity expansion and growth and profitability.

Last month, the company announced its entry into the electric vehicle (EV) financing sector. As part of its expansion strategy, the company said that it will begin offering financing solutions for EV batteries and electric two-wheelers. The move, it said, aligns with the company commitment to promoting sustainable transportation and supporting the growing EV market.

Meanwhile, equity benchmark indices Sensex and Nifty bounced back sharply in early trade on Wednesday amid value buying at lower levels as well as tracking the strong rally in Asian peers.

Market analysts said domestic equities were highly oversold and were due for a bounce.

Moreover, stocks in the Asia Pacific region traded on a positive note early on Wednesday on the tariff relief signal after President Donald Trump sparked a global selloff, they said.

The 30-share BSE Sensex benchmark climbed 564.80 points or 0.77 per cent to 73,554.73 in the morning trade. The NSE Nifty climbed 176.65 points or 0.8 per cent to 22,259.30.

From the Sensex pack, Tata Steel, Mahindra & Mahindra, HCL Technologies, Tech Mahindra, Adani Ports, Tata Motors, Power Grid, NTPC, Infosys, Tata Consultancy Services and Bharti Airtel were among the gainers.