Multibagger in just 6 months: Back-to-back 52-week high in this multibagger film-making stock after Ekta Kapoor & FIIs collectively bought 2,38,83,930 shares!
The stock gave multibagger returns of over 100 per cent in just 6 months whereas BSE Sensex Index is up by 12.5 per cent.
Today, the stock market was trading in red with BSE Sensex Index down by 0.35 per cent and NSE Nifty-50 Index down by 0.27 per cent. Though the market was in red, shares of Balaji Telefilms Ltd gained 4.26 per cent and made a fresh new 52-week high of Rs 143.65 per share from its previous closing of Rs 137.76 per share with a total quantity traded over 10 lakh shares traded (BSE & NSE). In the recent trading sessions, the stock has been hitting back-to-back 52-week highs.
Balaji Telefilms Ltd is in the business of production of films, event business, B2C and B2B digital content business and operates a subscription-based video on demand (SVOD) over-the-top (OTT) platform, distribution of films. It has established itself in the business of television content in India particularly for Hindi language content.
The Board approved allotment maximum of up to 2,38,83,930 warrants, each convertible into or exchangeable for 1 fully paid-up equity share of the Company of the face value of Rs 2 each warrant to the “Proposed Allottees” by way of the preferential issue for Rs 89.60 per warrant, for an aggregate amount of up to Rs 2,14,00,00,128.
In the allotment, the promoter of the company Ms Ekta Ravi Kapoor bought 50,00,000 shares and FIIs (Aries Opportunities Fund Limited, Tano Investment Opportunities Fund, Elara India Opportunities Fund, Coeus Global Opportunities Fund, Atyant Capital India Fund I and Vanderbilt University- Atyant Capital Management Limited) aggregrating bought 1,88,83,930 shares via preferential issue.
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Additionally, the company launched the CREW movie teaser yesterday and in just 1 day it has more than 1 crore views and is trending (#3) on the internet.
Earlier, Balaji Motion Pictures, a subsidiary of Balaji Telefilms Ltd's highly anticipated sequel "Love, Sex aur Dhokha 2" has finally unveiled its new release date, April 19, 2024, through an intriguing motion poster featuring a pulsating heart adorned with social media icons, hinting at the film's exploration of modern love and relationships in the digital age. This bold and thrilling glimpse promises a gripping narrative delving into love, betrayal, and the consequences of technology, produced by Ektaa R Kapoor and Shobha Kapoor under the direction of Dibakar Banerjee.
The company has a market cap of over Rs 1,400 crore. The stock gave multibagger returns of over 100 per cent in just 6 months whereas BSE Sensex Index is up by 12.5 per cent. Investors should keep an eye on this film-making stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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