Digital marketing company, Brightcom’s stock is locked at upper circuit today after it appointed Peshwa Acharya as President Group Strategy.
Key point to note –
- Mr Acharya has more than 3 decades of experience across FMCG (CPG), Retail, Telecom, Technology, E-commerce, Hospitality and Education domains. He has worked with many companies of varied repute in the past including Sterling Holiday Resorts, Housing.com, Reliance Communications, Reliance Retail and Dabur amongst other.
- He was associated with the Company as independent director since September 2020.
- He joins Brightcom from Vibgyor group of schools where he had joined as Chief Sales Marketing officer in 2020 only.
- Linkedin profile link
For now I would not read too much into this appointment. Brightcom is a very different business compared with what Mr Acharya has done in the past.
It’s also worth mentioning here that Brightcom after being a significant wealth destroyer in the past has for last few months been showing some signs of revival. Stock price has increased from Rs 6.5 in May 21 to Rs 36 currently implying a market cap of more than Rs 3,600 crore.
The Company in the past was known as Lycos, Ybrant and had good traction around 2010-12. However, post that it was in a continuous downspiral due to corporate governance concerns.