Brightcom Group Share Price: Investors cry, shares fall from Rs 100 to Rs 12; Now the notice sent by SEBI
These shares have been falling continuously since last year. The stock has gone up to Rs 12.65 from Rs 100. For the last five days, the stock has been continuously hitting the lower circuit and now this company has also come under SEBI’s radar. At one time, the company’s shares had given bumper returns to investors. Brightcom Group shares have fallen 56% so far in 2023, while the stock has fallen 65% in the past six months. Apart from this, the stock has fallen by around 87 percent in the last one year.
SEBI issued a notice
Market regulator Sebi has also issued a show-cause notice to the Brightcom group, according to media reports amid a steady decline in the company’s shares. According to the market regulator’s notice, there has been an allegation of major fraud in the company’s financial statements. Sebi said the Brightcom group increased its profit by Rs 868.30 crore in the year ended March 31, 2020, by cutting costs and using irregular accounting practices.
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Movement of Company Shares
Shares of the company were at Rs 117.66 on December 17, 2021. Now, after a continuous decline, the share price has fallen to Rs 12.65. In such a situation, the investors have lost more than 90 percent in this stock. The company’s business is spread in many countries like Brazil, UK, Chile, USA, Argentina etc.
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continuous lower circuit
The shares of Brightcom Group continued to fall as the shares continued to hit the lower circuit for the last five days. Shares have fallen more than 21.18 percent in five days. No investor is willing to buy the shares. On the other hand, this share has come down to 33.60 percent in the last one month. Shares have fallen 64.47 percent in the last six months. Shares have fallen 86.27% in the last one year.
When investing… keep this in mind!
