Multibagger from its 52-week low: Watch out for this small-cap stock that was locked in upper circuit on June 02
The stock gave multibagger returns of 111.82 per cent in just 1 month and over 120 per cent returns from its 52-week low of Rs 9.27 per share.
On Friday, one of the gainers on BSE, shares of Brightcom Group Ltd surged 5 per cent upper circuit to Rs 20.16 per share from its previous closing of Rs 19.63. The stock has a 52-week high of Rs 69.85 and a 52-week low of Rs 9.27. The shares of the company hit back-to-back upper circuits in the recent trading sessions.
The reason behind the sudden rise in the stock price is that the company announced its outstanding Quarterly Results and annual results. Here are the details:
According to the quarterly results, the net sales stood at Rs 1,367.92 crore, up 10.28 per cent and net profit stood at Rs 229.15 crore, up 2.73 per cent in Q4FY23 compared to Q4FY22. The EPS for Q4FY23 is Rs 1.14.
According to the annual results, the net sales stood at Rs 7,396.77 crore, up 47.36 per cent and net profit stood at Rs 1,370.99 crore, up 50.30 per cent in FY23 compared to FY22. The EPS for FY23 stood at Rs 6.79. In the financial year 2022-2023, the company gave bonus shares in the ratio of 2:3 to its shareholders and declared a dividend of Rs 0.10 per share with a face value of Rs 2 each.
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Brightcom Group Limited provides information technology services. The company offers a digital ecosystem, communication tools, information management, and internet connection solutions. Brightcom Group serves customers worldwide. The stock gave multibagger returns of 111.82 per cent in just 1 month and over 120 per cent returns from its 52-week low of Rs 9.27 per share.
Investors should keep an eye on this small-cap stock under the radar.