Brightcom Group stock suspended from trading on BSE, NSE
Brightcom Group shares have been suspended from trading on both the BSE and the NSE today. This suspension will remain in place until the company complies with the master circular issued by the NSE.
The suspension of trading came after the company failed to declare its quarterly earnings for two consecutive quarters ending September 30, 2023, and December 31, 2023.
Earlier in May, the NSE had announced that trading in Brightcom Group shares would be suspended from June 14 and would continue until compliance with the master circular. After a 15-day suspension, trading will resume on a trade-for-trade basis or in the 'Z' category on the first trading day of every week for the next six months.
A 'Z' category stock is one that has failed to comply with listing requirements of the exchanges, failed to resolve investor complaints, or has not made required arrangements with both depositories. Meanwhile, under the Trade-For-Trade category, only delivery trades are permitted, and no intraday trading is allowed. To buy such a stock, one must have funds for 100% delivery of the stock.
However, on June 11, the company declared results only for the September quarter and the first half of the financial year 2024, without providing clarity on when the December quarter results would be announced.
For the September quarter, Brightcom Group's revenue remained flat at Rs 112 crore, while Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) fell to Rs 1 crore from Rs 3.92 crore in the same quarter last year. Net
