This smallcap IT company’s stock has surged 118% in 18 days; here’s why

Shares of Brightcom Group were frozen at 5 per cent upper circuit at Rs 74.55, also its fresh 52-week high, on the BSE in Thursday’s trade. It was for the ninth straight day that the stock of the smallcap information technology (IT) software company was locked in the upper circuit, rising 55 per cent during the period.

Currently, Brightcom Group is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. Till 01:31 pm, a combined 1.03 million equity shares had changed hands on the counter and there were pending buy orders for 2.16 million shares on the NSE and BSE, the data shows.