The company has a strong plan to make electric vehicles
Business Business: Shares of Penny Standard Capital Markets rose 2.1 per cent to Rs 1.42 today. The stock has gained 730% in a year. During this period, the price increased from 17 paise to the current price. Let us tell you that this NBFC is a multi-bag penny stock priced under Rs 2. Standard Capital has launched a major investment program to advance electric vehicle (EV) mobility solutions and renewable energy projects across the country. The project supports companies in implementing green energy solutions, creating a more cost-effective and sustainable energy environment. The program has a project size limit of Rs 5 million and ensures that companies receive the funds needed to implement large-scale sustainable energy solutions.
Standard Capital’s funding will provide critical funding for projects installing solar panels and other renewable energy systems as India expands its clean energy efforts. India has installed over 68 GW of solar power capacity by 2023, reflecting the country’s significant progress in the renewable energy industry. This initiative is part of the country’s broader plan to achieve 500 GW of renewable energy capacity by 2030. Additionally, Standard Capital provides financial support to companies entering the electric vehicle (EV) market. The country’s electric vehicle sector is crucial to reducing greenhouse gas emissions as it currently accounts for 14% of India’s total carbon emissions. To overcome this, a transition to electric vehicles is essential and the government is targeting a 30 percent electric vehicle penetration rate by 2030. These changes are expected to help India reduce vehicle emissions by about 35 percent, and the electric vehicle industry is expected to grow to $150 billion by the same year.
