Calcom Vision shares were at 5% higher for the 10th day in a row, at Rs 113.90, also its record on BSE on Thursday, thanks to large volumes. In the past two weeks, shares of the consumer electronics company have jumped 63%.
Over-the-counter trading volumes increased more than 10 times, with 114,000 shares changing hands and orders to buy 2,240 BSE stocks were pending at 11:50 am By comparison, the S&P BSE Sensex rose 0.22% to 57,913 points. Currently, the stock is classified as XT on BSE. The XT group consists of all stocks that are only listed on the ESB and are settled on a swap-for-exchange basis.
Calcom Vision’s market price has nearly doubled, or is up 99%, in less than a month (18 trading days) from a level of Rs 57.15 reached on November 22, 2021. Since the most March 2020 low, the company’s stock price soared 1,383% to Rs 7.68 on BSE.
On November 10, 2021, Calcom Vision announced that the Company had been provisionally selected as a beneficiary of the Production Linked Incentive (PLI) program.
The Indian government had approved a PLI program for white goods (including air conditioners and LED lamps) to be implemented in fiscal year 2021-2022 through fiscal year 2028-2029 with a budget expenditure of 6 238 crore rupees.
In order to participate and enjoy the benefits of the PLI scheme, the company had applied to manufacture LED drivers and LED motors under the PLI scheme for white goods (air conditioners and LED lamps), the company said in an exchange deposit.
Calcom Vision is an original designer and manufacturer of electronics and consumer durables. In 2009, Calcom diversified into lighting and developed a range of bulbs, lights and drivers. Now Calcom is a fully integrated lighting manufacturer with a factory located in Greater Noida, Delhi NCR.
For the first half (April-September) of the current fiscal year 2021-22 (S1FY22), the company had reduced its losses to Rs 38 lakh against Rs 1.22 crore in S1FY21. The company had posted a net profit of Rs 1.05 crore during the entire fiscal year 2020-21.
Globally safeguarded supply chains cause serious delays in the availability of raw materials. Transportation costs have increased dramatically, leading to uncertainty in the company’s business plans. Here again, management expects the situation to improve after the third quarter (Christmas and New Year sales).
The company, in its FY21 annual report, said it had decided to make a strategic shift to focus on low wattage bulbs in the product line. The industry scenario looks positive and the Company expects good growth in sales and profitability over the coming year despite the Covid-19 pandemic.