After the announcement of bonus shares, this multibagger hit the upper circuit for the second consecutive day

After the announcement of bonus shares, this multibagger hit the upper circuit for the second consecutive day

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new Delhi. At the beginning of the stock market on Tuesday, the shares of Brightcom Group on the BSE hit an upper circuit of 5% for the second consecutive day. Yesterday, on Monday, the stock closed with upper circuit at Rs 101.25. Today this share has been split, meaning the price has been adjusted according to the bonus share. After the split today, this stock is locked at Rs 63.75.

The company had earlier informed that in its board meeting held on 25 January 2022, it has been decided to issue bonus shares on the basis of 2:3, which means that under this issue, 2 bonus shares will be issued against 3 equity shares.

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Multibagger returns given in 12 months
The company has said in a statement issued in this regard that in the last 12 months, there has been a manifold increase in the shares of Brightcom Group. In such a situation, this stock will be out of reach of all small investors. The issue of bonus shares will make the stock cheaper for new investors, which is expected to increase the shareholder base of the company.

Brightcom Group is a digital marketing company. It is in the Ed Tech, New Media and IoT based business worldwide. The company does business in the US, Israel, Latin America ME, Western Europe and Asia specific regions along with the domestic market.

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It is worth noting that the share of Brightcom Group has given a multibagger return of 1,318 percent in the period of 1 year and it has increased from Rs 7 to Rs 101 in this period. This multibagger stock has seen a rise of more than 184 percent in the last 6 months. However, so far in 2022, this stock has seen a decline of 40 percent.

What is the meaning of bonus shares
Bonus Shares means that the company divides its shares into more parts. Companies usually do this so that there is more liquidity in the stock and its price comes down. The lower the price, the more people are able to buy it. At present, all the shareholders of the company will get these bonus shares. In this case, whoever has 1 share of the company, after conversion, he will have 10 shares. The share price will also decrease in the same proportion.

Tags: Multibagger stock, Share market

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