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Multibagger Stock Crash: Brightcom Group Ltd shares are heavily bought today. The company’s shares rose nearly 7%. This Brightcom Group stock closed at Rs 26.65. Explain that the company has informed BSE of its quarterly results. Brightcom Group has announced that the company’s board meeting is scheduled to take place on February 3, 2023. This is where the results for the December quarter are published. Let us tell you that this stock has been steadily falling for a year. The company’s shares have fallen by as much as 75% in a year.
75% return in one year
From 2022 to now, this stock is under selling pressure. This stock has lost 75% of its investors in one year. During that time the stock has fallen from Rs 108 to the current share price. The stock is down 10% over the past month. In 6 months, this proportion has increased to 44%. Brightcom Group Ltd had had huge returns of around 2,500% in 2021. At the same time, it was one of India’s worst performing companies in 2022.
An announcement by the Treasury Secretary slumped these stocks further, there was a rush to sell stocks among investors.
How long has the stock been falling?
Let us tell you that this sell-off in shares began after the market regulator raised concerns that some of the company’s disclosures and financial transactions were “harmful” to investors. The Securities and Exchange Board of India last year engaged Deloitte Touche Tohmatsu India LLP to conduct a forensic review of Brightcom’s financial data. “Sebi needs to act quickly and strengthen its investigative system,” said Harish Kumar, Partner, Luthra & Luthra Law Offices India.
