Home Market News Brightcom Group shares three-year business outlook but no timeline yet on suspension revocation
Shares of the Brightcom Group have now been suspended from regular trading for six months and has left more than 6.5 lakh small shareholders of the company in the lurch. The stock only trades in the trade-for-trade mechanism currently, when trading takes place only on the first day of the week.
By Hormaz Fatakia December 16, 2024, 4:40:39 AM IST (Published)
The Brightcom Group, in its weekly update on Sunday, December 15, said that it anticipates 'significant growth' through both organic and inorganic routes over the next two to three years for its business.
It made such a projection due to its expansion in markets like the US, Europe and the EMEA. Although it did not specific which country will make what contribution to its business going forward.
However, the company did not share a timeline on when its trading suspension will be revoked.
The weekly update said that it has completed the fee payment to both exchanges and has resolved all queries posed by the National Stock Exchange (NSE). It said that it is awaiting further directives from the Bombay Stock Exchange (BSE).
The Brightcom Group is said to be planning a meeting with the exchanges to streamline the revocation process, its presentation said.
Shares of the Brightcom Group have now been suspended from regular trading for six months and has left more than 6.5 lakh small shareholders of the company in the lurch. The stock only trades in the trade-for-trade mechanism currently, when trading takes place only on the first day of the week.
In an earlier update, the Brightcom Group had said that it is confident of its trading suspension being revoked "well before" December 14, 2024.
Having onboarded new statutory auditors, the Brightcom Group is also hopeful that the audit for financial year 2024 will be completed soon, although no timeline for the same has been shared either.
The company recently declared its results for the September period of financial year 2024.
