Penny stock Toyam Sports hits 5% upper circuit. Here’s why
Toyam Sports jumped 5% upper circuit to hit the day's high of Rs 6.61 on the BSE in Wednesday's trade following the announcement of its sports web series, ‘Kumite 1 Warrior Hunt’ making an official entry to the Kenya International Sports Film Festival (KISFF).
The web series is slated for screening at the premier African film festival on October 29, 2023, in Nairobi, Kenya, the company informed in its filing to the exchanges.
The above development was announced by Toyam Sport on Tuesday minutes before the market closing time and it triggered a strong movement as the counter hit the upper circuit of Rs 6.30.
In 2023, the KISFF received a total of 1,400 submissions from 110 countries and Kumite 1 Warrior Hunt stands as India's first sports web series, the exchange filing claimed.
The film delves into the realm of mixed martial arts (MMA) and the primary objective of the web series is to popularise MMA among the Indian MMA athletes.
Kumite 1 Warrior Hunt, was released in February 2023 and was hosted by Bollywood actor Suniel Shetty and Indian sports promoter Mohamedali Budhwani.
Toyam Sports is a Mumbai-based company that has indulged in promoting Mixed Martial Arts (MMA) in India. It has also managed to make strong inroads in a sport as popular as cricket, domestically and globally.
The company claims to be providing quality and affordable accessories to athletes and has launched a range of sports accessories under the ‘K1 L’ Brand available on all leading e-commerce platforms like Amazon, Flipkart, etc.
The company has a market capitalisation of Rs 373.11 crore.
