Ekta Kapoor bought 50,00,000 shares and FIIs bought 1,88,83,930 shares via preferential issue of this multibagger stock; scrip hit 52-week high!
The stock gave multibagger returns of 150 per cent in just 6 months whereas BSE Sensex Index is up by 8.5 per cent.
Today, shares of Balaji Telefilms Ltd gained 0.97 per cent to Rs 129.69 per share from its previous closing of Rs 128.45 with an intraday high of Rs 132.29 and an intraday low of Rs 119.20. The stock also made a fresh new 52-week high of Rs 132.29 per share with a spurt in volume by more than 3.44 times on BSE.
The sudden rise in the stock price was due to the company at their meeting held today, i.e. on February 09, 2024, inter-alia considered and approved the following: to issue and allot a 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 upto 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 1,311.56 crore and reported positive numbers in its Quarterly Results (Q2FY24) and half-yearly results (H1FY24). The stock gave multibagger returns of 150 per cent in just 6 months whereas BSE Sensex Index is up by 8.5 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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