FIIs Sold 77,46,120 Shares: Penny Stock Under Rs 10 Hit Upper Circuit After Reporting Turnaround Story In Q1FY25 & Weekly Updates
The stock is down by 63 per cent from its 52-week high of Rs 22.97 per share while it is up by 28 per cent from its 52-week low of Rs 6.65 per share.
On Monday, December 02, 2024, the shares of this penny stock were locked in a 5 per cent upper circuit to Rs 8.51 per share from its previous closing of Rs 8.11. The stock is down by 63 per cent from its 52-week high of Rs 22.97 per share while it is up by 28 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 stock name is Brightcom Group Ltd.
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.
Quarterly Results: According to quarterly results, the total income increased by 6 per cent to Rs 10,234.38 lakh in Q1FY25 compared to the total income of Rs 9,655.27 in Q4FY24. In Q1FY25, the company reported a net profit of Rs 5.40 lakh compared to a net loss of Rs 942.04 lakh in Q4FY24, an increase of 100.60 per cent.
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Weekly Update: The company is prioritizing data privacy and transparency by focusing on Customer Data Platforms (CDPs) and Consent Management Platforms (CMPs). This strategic shift aims to enhance data privacy compliance and deliver innovative solutions that cater to the evolving needs of advertisers and consumers. Meanwhile, the company is actively working to meet the compliance requirements outlined in the Exchange Circular to restore normal trading. This includes paying the revocation fee to NSE and BSE, appointing a Company Secretary, and forming new board-level committees for enhanced governance. The company is also gearing up for the release of Q2 FY25 results and the upcoming Annual General Meeting (AGM).
In September 2024, FIIs sold 77,46,120 shares and decreased their stake to 9 per cent compared to June 2024. The company has a market cap of Rs 1,717.25 crore and has delivered good profit growth of 27.5 per cent CAGR over the last 5 years. The stock has a PE of 3.5x, an ROE of 10 per cent and an ROCE of 13 per cent. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.