Multibagger stock slips after 12 sessions; still up 500% in three years

Shares of multibagger Brightcom Group Ltd fell after 12 days of gain amid a rally in the market today. Brightcom Group stock was stuck in the lower circuit of 5% at Rs 15.77 against the previous close of Rs 16.60 on BSE. The small cap stock has declined 46% on a year-to-date (YTD) basis and lost 74.63 per cent in a year. The stock has rallied 13.29% in a month. The stock, which is trading near Rs 16 level is a multibagger over the last three and five years, respectively. It has gained 523% in three years and 472% in the last five years. Seasoned investor Shankar Sharma owned 1.24% stake or 2.5 crore Brightcom Group shares at the end of March 2023 quarter. 

In terms of technicals, the relative strength index (RSI) of Brightcom Group stands at 63.4, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 0.8, indicating low volatility during the period. Brightcom Group shares are trading higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.   

Total 278.97 lakh shares of the firm changed hands amounting to a turnover of Rs 46.87 crore. The stock hit a 52-week high of Rs 69.85 on May 31, 2022 and fell to a 52-week low of Rs 9.27 on June 28, 2023.

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Net profit climbed to Rs 543.93 crore in the last quarter against Rs 371.45 crore in the corresponding quarter of the previous fiscal. Sales rose 41.75% to Rs 2865.17 crore in Q4 from Rs 2021.33 crore a year earlier. EBITDA climbed 43.39% to Rs 815.74 crore in the March quarter against Rs 568.90 crore a year earlier.  

Sales zoomed 75.77% to Rs 5019.59 crore in the last fiscal against net profit of Rs 2855 crore in the previous fiscal. Profit rose 89% to Rs 912.20 crore in FY23 against Rs 483.01 crore in the previous fiscal.   

The group consolidates ad-tech, new media and IoT (Internet of Things) based businesses across the globe, primarily in the digital eco-system. Brightcom's consumer products division is focused on IoT. The company has a presence in the US, Israel, Latin America ME, Western Europe and Asia Pacific regions. 

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