240 per cent returns: Back-to-back 52-week high in this media multibagger stock as it enters MoU between The DZ Group!
The stock is up by 93 per cent in just 1 month and gave multibagger returns of over 240 per cent in 3 months.
Bright Outdoor Media Ltd informed that the company have entered a memorandum of understanding (MOU) between The DZ Group and Bright Outdoor Media Limited (BOML) for the next 5 years and if mutually agree to an extension of a further 2 years for premium hoarding traffic facing coming from Worli Sea Link, coming from Town, coming from Mahim Causeway, Coming from Bandra Kurla Complex(BKC) and going towards the airport and western suburbs LED display (Digital Screen) size 41 x 41 facing evening traffic at Western Express Highway, Bandra (E) Mumbai 400051.
The gross revenue (GR) generated from the sale of digital advertisement space (i.e., on the 5 (five) Slots duration of 10 seconds each) on the said LED Screen shall be profit sharing between both parties on a quarterly basis. Out of the 6 slots duration of 10 seconds each, BOML shall be entitled to 1 slot of 10 seconds duration.
Bright Outdoor Media Limited is engaged in the business of providing advertising services offering advertising media services consisting of out of home (OOH) media services.
According to the financials, BOML has a market cap of over Rs 700 crore. The net sales increased by 30 per cent to Rs 46.54 and the net profit increased by 28.26 per cent to Rs 2.95 crore in Q4FY23 over Q4FY22. In FY23, net sales increased by 81.33 per cent to Rs 91.50 crore and net profit skyrocketed by 174.13 per cent to Rs 7.10 crore over FY22.
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On Monday, shares of Bright Outdoor Media Ltd plunged 2.37 per cent to Rs 497 per share with an intraday high of Rs 514.20 and an intraday low of Rs 491. The stock hit a new 52-week high of Rs 514.20 per share, and it has been hitting back-to-back 52-week highs in recent trading sessions.
The stock is up by 93 per cent in just 1 month and gave multibagger returns of over 240 per cent in 3 months. Investors should keep an eye on this media stock.
Disclaimer: The article is for informational purposes only and not investment advice.