Multibagger stock: The stock of Brightcom Group remained in the upper circuit for the 5th consecutive session. This multibagger stock opened with a gain of 5 per cent on Wednesday as compared to its closing price of Rs 64.30 a day earlier. Brightcom Group is one of the few companies to issue bonus shares in March 2022. The company had announced the issue of bonus shares in the ratio of 2:3 with a record date of March 16.
The company will issue bonus shares
The digital marketing company had proposed to issue bonus shares in January 2022. In an exchange filing in January 2022, Brightcom Group, referring to the offer of bonus shares, said, “The company proposes to issue bonus shares on the record date of March 16, 2022, based on the eligibility of shareholders.”
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Shares increased manifold in 12 months
Justifying the bonus share offer, the company said, “Brightcom Group has grown manifold over the past 12 months, reaching levels beyond the reach of many small investors.” With the issuance of bonus shares, it will become cheaper for many new, enlisted members of the shareholders.
Brightcom Group’s stock is one of the select multibagger stocks of 2021 and was hit upper circuit on March 10, 2022. The trade volume of Multibagger stock has increased sharply.
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Offices in many countries
Brightcom Group is a digital marketing company headquartered in Hyderabad. The company has offices in the US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India and Australia.
The current market cap of Brightcom Group’s shares is Rs 13,620 crore and its book value per share is a little over Rs 19. Trade volume is currently at 4,46,081, which is significantly lower than the 20 day average volume of 35,04,566.
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