Shankar Sharma portfolio stock hits upper circuit for fourth straight session. Share jumps 90% in one month
Shankar Sharma portfolio: Circuit to circuit stock has hit upper circuit on all five sessions this week except Monday
PremiumShankar Sharma portfolio: Brightcom Group share has been in new for last few months as the stock has been hitting upper circuit on a regular basis. This digital marketing company's stock price hit upper circuit on fourth day in a row on Friday. The circuit to circuit stock has been continuously hitting upper circuit after hitting lower circuit on Monday. So, the Shankar Sharma portfolio stock has hit circuit on all five sessions in the week gone by.
Brightcom Group share price opened upside on Friday session and went on to hit 5 per cent upper circuit after climbing to its intraday high of ₹23.65 apiece on NSE during early morning deals. As mentioned above, this Shankar Sharma portfolio stock has been hitting upper circuit since Tuesday on a regular basis.
Brightcom Group share price history
Brightcom Group shares are one of the most beaten down stocks in Shankar Sharma portfolio. This stock received heavy beating in 2022 as it shed from around ₹120 to ₹9.35 apiece levels by end of April 2023. However, Brightcom Group stocks received some buying interest by Dalal Street bulls from May 2023 and the stock has been hitting upper circuit on a regular basis after bottoming out at around ₹10 apiece levels.
In last one month, this Shankar Sharma stock has risen to the tune of over 90 per cent whereas in last six months, it has shed around 25 per cent. In YTD time, this digital market company's stock tumbled near 20 per cent. But, in last one year, Brightcom Group shares nosedived around 55 per cent.
Brightcom group shares have been ascending after the company replied to the concern raised by some media report in regard to company's accounting procedures, reporting, corporate governance, and other areas.
Brightcom Group replied to the media report on the above mentioned concerns citing, “Given the complexity of our operations across different countries and jurisdictions, we comply with local laws in each subsidiary, necessitating the involvement of multiple auditors for the audit function. Ultimately, the statutory auditor audits the standalone financials of the company and consolidates the subsidiary accounts. Rest assured that Brightcom Group adheres to all regulatory requirements and international best practices for corporate governance, ensuring comprehensive disclosure of financial details for our Group subsidiaries in our consolidated financial reports. For instance, the books of accounts of significant subsidiaries, such as Online Media Solutions (OMS) in Israel (about 40% of our business) have been audited by reputable audit firms like EY."
Shankar Sharma shareholding in Brightcom Group
According to Brightcom Group shareholding pattern for January to March 2023, Shankar Sharma holds 2.5 crore Brightcom Group shares, which is 1.24 per cent of total paid up capital of the company.
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