Back-to-Back 52-week highs: Heavy buying witnessed in this multibagger small-cap stock post-release date announcement of an upcoming movie!
The stock gave multibagger returns of over 100 per cent in just 6 months whereas BSE Sensex Index is up by 12 per cent.
Today, shares of Balaji Telefilms Ltd gained 5.14 per cent to make a fresh new 52-week high of Rs 135.95 per share from its previous closing of Rs 129.30 with a total quantity traded over 7 lakh shares traded (BSE & NSE). In the recent trading sessions, the stock has been hitting back-to-back 52-week highs.
Balaji Motion Pictures, a subsidiary of Balaji Telefilms Ltd's highly anticipated sequel "Love, Sex aur Dhokha 2" has finally unveiled its new release date, April 19, 2024, through an intriguing motion poster featuring a pulsating heart adorned with social media icons, hinting at the film's exploration of modern love and relationships in the digital age. This bold and thrilling glimpse promises a gripping narrative delving into love, betrayal, and the consequences of technology, produced by Ektaa R Kapoor and Shobha Kapoor under the direction of Dibakar Banerjee.
Earlier, the Board approved allotment maximum of up to 2,38,83,930 warrants, each convertible into or exchangeable for 1 fully paid-up equity share of the Company of the face value of Rs 2 each warrant to the “Proposed Allottees” by way of the preferential issue for Rs 89.60 per warrant, for an aggregate amount of up to Rs 2,14,00,00,128.
In the allotment, the promoter of the company Ms Ekta Ravi Kapoor bought 50,00,000 shares and FIIs (Aries Opportunities Fund Limited, Tano Investment Opportunities Fund, Elara India Opportunities Fund, Coeus Global Opportunities Fund, Atyant Capital India Fund I and Vanderbilt University- Atyant Capital Management Limited) aggregrating bought 1,88,83,930 shares via preferential issue.
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Balaji Telefilms Ltd is in the business of production of films, event business, B2C and B2B digital content business and operates a subscription-based video on demand (SVOD) over-the-top (OTT) platform, distribution of films. It has established itself in the business of television content in India particularly for Hindi language content.
The company has a market cap of Rs 1,370 crore. The stock gave multibagger returns of over 100 per cent in just 6 months whereas BSE Sensex Index is up by 12 per cent. Investors should keep an eye on this film-making stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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