Brightcom Group turns multibagger in just one month, soars 102%

Brightcom Group’s shares have surged by 102% in a month, despite concerns over the ad-tech and digital advertising company’s accounting practices after a Sebi show-cause notice. In April, the shares hit a year-low after allegations of fraud in its year-end financial statements, which SEBI found camouflaged accounting entries in excess of Rs 1,280 crore between FY19 and FY20. A recent dramatic turnaround has brushed aside investor concerns, however, with the majority public shareholders seeing shares locked at the upper circuit last week at Rs 20.55.