Rs 6 to Rs 150: This penny stock turned into a multibagger in one year

Shares of Brightcom Group have rallied 2,320% in the last one year. The penny stock, which closed at Rs 6.17 on February 12, 2021 rose to a high of Rs 150.10 on the BSE today. An amount of Rs 1 lakh invested in the shares of Brightcom Group a year ago would have turned into Rs 24.23 lakh today.

In comparison, Sensex has risen 10.36 per cent during the period. The midcap stock hit an intra day high of Rs 150.10 on BSE today. The stock opened with a loss of 4.98% at Rs 149.85 against the previous close of  Rs 157.70 on BSE.

The stock is trading higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.

Total 3.27 lakh shares of the firm changed hands amounting to a turnover of Rs 4.90 crore on BSE. Market cap of the firm stood at Rs 15,608 crore on BSE. However, the share has lost 16.31%  since the beginning of this year.

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The stock hit a 52-week high of Rs 204.80 on December 24, 2021 and a 52-week low of Rs 5.82 on May 5, 2021.

15 promoters held 19.74 per cent stake in the firm and public shareholders owned 80.26 per cent at the end of period ended January 25, 2022.

2,11,987 public shareholders owned 94.83 crore shares of the firm.

Of these, 2.08 lakh shareholders held 11.56% stake with capital up to Rs 2 lakh.

Only 664 shareholders with 17.69% stake held capital above Rs 2 lakh at the period ended January 25, 2022. 68 foreign portfolio investors (FPIs) held 11.55% stake in Q3 of the current fiscal.

The stellar rise in the stock of Brightcom Group does not fully reflect the financial performance of the firm.

In the December quarter, the firm reported a 168% rise in net profit to Rs 371.45 crore against Rs 138.60 crore in the corresponding quarter of previous fiscal.

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Sales rose 130% to Rs 2,021 crore in the last quarter against Rs 878.55 crore in the December quarter of 2020. Operating profit rose 127.31% to Rs 568.90 crore for the quarter ended December against Rs 250.27 crore in the corresponding quarter of the previous fiscal.

On a quarter-on-quarter basis, the firm reported a 75% rise in net profit from Rs 212.15 crore in the September 2021 quarter.

Sales climbed 83.13% from Rs 1,103 crore in Q2  of the current fiscal.

On an annual basis, net profit rose 9.75% to 483.01 crore for the fiscal ended March 2021 against Rs 440.10 crore for the fiscal ended 2020.

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Sales rose to Rs 2,855.80 crore in the last fiscal against Rs 2,692.32 crore for the fiscal ended March 2020. Brightcom Group offers digital marketing solutions to businesses, agencies and online publishers worldwide. It connects advertisers with their audience across any form of digital media, using its massive local presence to deliver appropriate messages to the right audience, through the most relevant digital channels.

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