Brightcom Group rallies ahead of preferential issue, zooms 174% in a month

Brightcom Group had signed a LOI to acquire a digital marketing services company based out of India with 1100 employees and premium clients such as Netflix, Disney, Bitly, Hulu and The New York Times

Shares of Brightcom Group were locked in upper circuit of 5 per cent at Rs 34.85 on the BSE in Tuesday's session ahead of board meeting to consider preferential issue of equity shares to specific individuals.

The stock of the information technology (IT) software company was trading at its 52-week high level. It was frozen in the upper circuit for seventeenth straight trading day on the BSE. In the past one month, it has zoomed 174 per cent from level of Rs 12.74 on June 14, 2021, as compared to a marginal 0.34 per cent rise in the S&P BSE Sensex.