Brightcom Group to consider bonus shares issue next week, stock surges
Premium- The multibagger stock has rallied more than 475% in the last six months and over 2,862% in a year's period
Shares of Brightcom Group surged 5% to ₹191 apiece on the BSE in Monday's early deals after the company announced the proposal regarding issuance of bonus shares which will considered by its board next week on Tuesday, January 25.
“..the board meeting to be held on January 25, 2022 would consider the proposal to declare bonus shares for the benefit of the shareholders," Brightcom Group had announced in an exchange filing.
Brightcom Group shares have given multibagger return of over 2,862% in a year's period, from trading around ₹6 to currently hovering over 191 per share. The multibagger stock has rallied more than 475% in the last six months alone.
“Furthermore, as the Brightcom share has multiplied several times in the past 12 months, it has now reached levels that may be beyond the reach of many small investors. Issuing bonus shares will make it more affordable for new, incoming members of our shareholder list," the company added.
The company has a reserve position of ₹3,655 crore on a capital of ₹208 crore. This aspect gives us adequate room to capitalise reserves and distribute part of those reserves as a bonus share issue, it said.
Brightcom Group is a digital marketing company as it consolidates Ad-tech, New Media and IoT based businesses across the globe. The company's global presence includes the US, Israel, Latin America ME, Western Europe and Asia Pacific regions
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Its clients include leading blue chip advertisers like Airtel, British Airways, Coca-Cola, Hyundai Motors, ICICI Bank, ITC, LIC, Maruti Suzuki, MTV, P&G, Qatar Airways, Samsung, Viacom, Sony, Star India, Vodafone, Titan, and many others.
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