Confirming its interim directions against 20 entities in the Brightcom Group Ltd (BGL) matter, the Securities and Exchange Board of India (SEBI) suggested an examination and action if required by the directorate of enforcement (ED) in the settlement of loans advanced to M Suresh Kumar Reddy, former chairman and managing director (CMD) and his companies abroad through allotment of shares in India.
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.
Brightcom Group share price: The company, in an exchange filing, said it has postponed a board meeting to approve its quarterly results to January 21, 2023. Earlier, the meeting was scheduled to be held today.
Brightcom Group share price: The stock today surged 12.60 per cent to hit a day high of Rs 21.99. At this price, the scrip has declined 40.28 per cent from its one-year high of Rs 36.82, a level seen on June 22, 2023. Despite the said drop, the multibagger counter has gained 137.22 per cent from its 52-week low price of Rs 9.27, hit on April 28 last year when it turned into a penny stock.
Brightcom Group share price: The stock moved 14.17 per cent higher to trade at Rs 22.97. At this price, the scrip has gained 36.65 per cent in just two days. Despite the said rise, it has slipped around 27 per cent on a year-to-date (YTD) basis.