Sri Adhikari Brothers Television Network is a small-cap stock that gained over 50,000% in 2024. 

What Happened: Sri Adhikari Brothers Television Network stock has witnessed a dramatic surge at the bourses in 2024. The company which has a market cap of ₹3,608 crore was trading at ₹3.75 on January 23 and has now risen to ₹1,436.40 on November 6. 

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The reason for the rally is not clear as the company in its June quarter results had a net profit of ₹7 lakh. In the previous year, the company posted a loss of ₹5.29 crore. The company had a revenue of ₹1 crore in June 2024 while it did not post any revenue in the previous year. 

Promoter holding in the company witnessed a huge jump from 22.12% in December 2023 to 59% in the March 2024 quarter and it has stayed at around 59% in the June and September quarter as well.

Ruani Media Service Private Limited one of the promoters in the company increased their stake to 59.12% in March from virtually none in the company. On the other hand, Markand Navnitlal Adhikari and Gautam Navnitlal Adhikari sold their stake from 7.12% and 6.24% in December 2023 to 0.17% and 0.02% respectively in the September 2024 quarter. 

Indian Overseas Bank and Punjab National Bank had 11.94% and 3.55% stake in the company, respectively, till December 2023 and completely exited the stock in the March 2024 quarter. 

Price Action: Shares of Sri Adhikari Brothers Television Network gained 2% to hit the upper circuit at ₹1,436.40 on Wednesday. The stock has gained over 54% in the last month. 

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