The Brightcom company reported September FY2024 as Net revenue rose to Rs.112 cr, Net profit came as Rs.63 lakh from Rs.53 lakh in the previous quarter. EBITA declined to Rs.1 cr from Rs.3.92 cr from the last quarter. Margin declined to 0.90% from 3.50% in the previous quarter. This company only reported Second quarter results only, Not third and Fourth quarter. NSE reported of 2nd and 3rd quarter results not reported then company shares will be suspended from trading platform, after the issue of circular, this company reported 2nd quarter results today.
BRIGHTCOM GROUP Market price is moving in Descending channel and market has reached lower low area of the channel
On June 12, Brightcom Group’s stock price plummeted by five percent in early trade following the release of its earnings for the quarter ending in September 2024.
Initially, Brightcom Group had announced on May 16 that it intended to declare its quarterly results for both the second and third quarters by June 11. However, to date, the firm has only disclosed the earnings for the September quarter.
For the second quarter of the fiscal year 2024, Brightcom Group reported stagnant revenue at Rs 112 crore. The net profit saw a slight increase to Rs 63 lakh, compared to Rs 59 lakh in the same quarter of the previous fiscal year. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) declined to Rs 1 crore from Rs 3.92 crore year-on-year, resulting in a margin contraction to 0.9% from 3.47% YoY.
On May 14, the National Stock Exchange (NSE) announced that trading in Brightcom Group shares would be suspended from June 14, unless the company complied with the Master Circular by declaring its quarterly results for Q2 and Q3 by June 11, 2024. The NSE notice stipulated that after 15 days of suspension, trading in the securities of the non-compliant company would be allowed on a Trade for Trade basis in the (Z category) on the first trading day of every week for six months.
Brightcom Group responded, “The NSE notice indicates that the suspension of trading is contingent upon the company’s failure to declare its quarterly results for the second (Q2) and third (Q3) quarters by June 11, 2024. We want to assure you that Brightcom Group is fully committed to meeting all regulatory requirements and deadlines set by the exchanges.”
In 2023, the Securities and Exchange Board of India (SEBI) investigated Brightcom Group’s preferential issue of shares and warrants, revealing that some allottees had only made partial payments. This led to an interim order on August 22, 2023. In a subsequent confirmatory order, SEBI’s Whole-time Member Ashwani Bhatia recommended forwarding the order to the Enforcement Directorate (ED) due to potential violations involving foreign exchange transactions.
However, restrictions on veteran investor Shankar Sharma, preventing him from disposing of his Brightcom Group shares, were lifted by SEBI on February 28. As of March, Shankar Sharma held a 1.14% stake in Brightcom Group, while the company promoters held an 18.38% stake.
TVSSUPPLY: TVS Supply Chain Solutions Soars 8% on Daimler Truck’s 5-Year Deal
The TVS Supply chain acquired the contract for 5 years from Daimler Trucks AG and this contract is for supplying Logistics services for Daimler Truck across 16 countries. TVS will be provide Supply lines 65K and 8000 Storage units, operated in Singapore for this contract.
TVSSCS Market price is moving in Descending channel and market has reached lower high area of the channel
In morning trading on June 12, shares of TVS Supply Chain Solutions surged by 8 percent to reach Rs 183. This boost followed the announcement of a five-year strategic contract with Daimler Truck South East Asia Pte Ltd, a subsidiary of Daimler Truck AG.
TVS Supply Chain shares had experienced a decline of nearly 10 percent since the beginning of the year, thus the uptick provided some respite.
Under the terms of the agreement, TVS Supply Chain Solutions will act as the primary logistics partner for Daimler Truck AG, the world’s largest commercial vehicle manufacturer, in the Asia-Pacific region. The contract was awarded following extensive research conducted by Daimler Truck South East Asia.
The focus of the contract is to streamline supply chain operations for Daimler Truck’s distributor network, dealers, and workshops across 16 countries, which will be managed from TVS SCS’s strategic logistics center in Singapore.
TVS Supply Chain Solutions will be tasked with efficiently managing 8,000 SKUs (Stock Keeping Units) and 65,000 order lines annually, catering to a diverse range of parts with varying storage requirements.
Additionally, the company will deliver a customized IT solution suite to Daimler Truck, including an online platform for inventory visibility, ordering, inventory management, parts replenishment, pricing, invoicing, and data analytics for the Daimler Truck Parts Centre (DTPC) Southeast Asia.
TVS Supply Chain Solutions distinguishes itself by providing specialized solutions across the entire value chain, leveraging technology, data analytics, and extensive execution experience to optimize sourcing, consumption, and distribution processes.
HCLTECH: HCLTech Rises 3% on Renewal of $278M Deal with apoBank
The HCL Technologies acquired 7.5 years contract value of $278 Millionfrom Germany Apobank. This company gives Outcome services oriented to customers to do fast and reliable services for another 7.5 years. This HCL Company have another major project from Olympus medtech for Advanced and reliable medical services for patients by advanced engineering.
HCLTECH Market price is moving in Ascending channel and market has reached higher low area of the channel
On June 12, shares of HCL Technologies experienced a rise of approximately 3 percent following the announcement of a renewed deal worth $278 million with Germany’s apoBank, extending over a period of 7.5 years.
Under this agreement, the information technology giant will provide apoBank with an outcome-oriented managed services model aimed at delivering rapid and secure banking services to its clientele.
The brokerage firm Morgan Stanley also views this deal positively, interpreting it as a testament to HCL Technologies’ sustained momentum in securing large deals within the financial services domain. Additionally, Morgan Stanley, which holds an ‘overweight’ rating on HCL Technologies with a price target of Rs 1,650, noted the significant expansion of an existing client relationship.
Moreover, the brokerage expressed confidence in HCL Technologies’ ability to achieve its full-year revenue guidance, citing the assurance provided by such sizable deals.
In a parallel development, HCL Technologies expanded its partnership with Olympus, a global medtech firm, to facilitate advanced and affordable healthcare solutions for patients through cutting-edge engineering technologies.
Having collaborated for over a decade in engineering and research and development (R&D) activities encompassing product engineering, software engineering, product sustenance, and risk and regulatory services, HCL Technologies will establish a dedicated product innovation center in Hyderabad. This center will cater to Olympus’ operations across the US, Europe, the Middle East, and Africa.
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