Debt-free penny stock under Rs 10 hit upper circuit as company is into expansion Europe, Middle-East and Africa (EMEA) and Asia-Pacific (APAC) markets!
The stock has a PE of 1x, an ROE of 23 per cent and an ROCE of 31 per cent.
On Monday, shares of Brightcom Group Ltd were locked in a 5 per cent upper circuit to Rs 7.32 per share from its previous closing of Rs 6.98. The stock is 72.4 per cent down from its 52-week high of Rs 26.51 per share while it is up by 19 per cent from its 52-week low of Rs 6.65 per share. The stock’s all-time high is Rs 117.75 per share. The shares of the company saw a spurt in volume by more than 7.70 times on BSE.
Brightcom Group is significantly expanding its operations into Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC) regions. This strategic move is aimed at solidifying the company's position as a global leader in digital marketing and media. By establishing new entities under the Trenova Corporation brand in key locations like London and Hong Kong, Brightcom aims to enhance its client service, explore new market opportunities and foster stronger relationships with local partners. This expansion is driven by the desire to increase market share, provide localized support to clients, drive innovation and elevate the Brightcom brand on a global scale.
To ensure the success of this expansion, Brightcom is investing in talent acquisition, technological advancements, strategic partnerships and in-depth market research. The company is assembling highly skilled teams in London and Hong Kong to deliver innovative solutions tailored to local market dynamics. By combining these efforts with a strong focus on client needs and industry trends, Brightcom aims to achieve rapid growth and success in the EMEA and APAC markets.
Brightcom Group's Board of Directors has fully endorsed this expansion strategy, recognizing its potential to drive significant value for the company. The formation of Trenova Corporation and the appointment of key executives to lead the initiative demonstrate Brightcom's commitment to this strategic direction. As the company progresses on this journey, it anticipates unlocking new opportunities and strengthening its position as a preferred partner in the global digital marketing and media industry.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
Brightcom Group Ltd, previously known as Lycos Internet Ltd, is a global digital marketing powerhouse founded in 2000 and headquartered in Hyderabad, India. Offering a comprehensive suite of digital marketing solutions, the company caters to businesses, agencies, and publishers worldwide through its Ad-Tech and Digital Marketing, Software Services, and Future Technologies divisions. From traditional advertising formats to cutting-edge AI and DOOH, Brightcom's diverse portfolio positions it as a leader in the dynamic digital landscape.
An ace investors, Shankar Sharma own a 1.14 per cent stake in the company as of June 2024. The company has a market cap of Rs 1,477.12 crore; has delivered good profit growth of 27.5 per cent CAGR over the last 5 years and as of March 2024, the company is debt free. The stock has a PE of 1x, an ROE of 23 per cent and an ROCE of 31 per cent. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Rs 555.80 Crore Order Book & FIIs Bought 3,81,010 Shares: Multibagger Cable Manufacturing Stock Jumps 8 Per Cent Post Stellar Q1 Results & Rs 400 Crore Fundraising!