The buzzword in the crypto community is Non-Fungible Tokens (NFT). Any connection to a freshly emerging field attracts attention and, in many cases, investment.
On Dalal Street, a similar incident occurred.
Alexander Stamps and Coin, which specialises in philatelic and numismatic items, announced on Friday that it has decided to list and sell India’s largest collection of antiques, artefacts, and historically significant and rare items on India’s largest NFT platform, with an estimated value of over $20 million or Rs 150 crore.
“With the proposed listing, the company will get a huge market, wide network, diverse community reach and worldwide buyer-seller group who can check, exchange, buy, sell, review and refer to all the existing collection of the company at single click,” it said.
Following the announcement, the stock climbed nearly ten percent.
Brightcom Group’s stock surged 5% when the company announced the record date for a bonus share offering. The record date was set for March 16 by the company.
The planned equity incentive will be distributed in a two-to-three ratio (two equity shares for every three equity shares held by shareholders).
The company’s stock has witnessed a lot of buying in the last year. In the last year, the stock has increased by more than 2,200 percent, and in the last three years, it has increased by more than 5,700 percent.
Investments are being sold.
Mahindra Holidays & Resorts announced on Friday that it has agreed to sell its entire investment in Nreach Online Services Private Limited, comprising of 5,738 equity shares, or a 10.76 percent ownership.
The share, valued at roughly Rs 3 crore, will be purchased by Gift Management Asia, which is supported by APIS Growth Fund, a private equity fund managed by APIS Partners LLP. Gif Management is in the business of managing and developing loyalty programmes all around the world.
The move, however, did not go down well with the company’s shareholders, and the stock dropped roughly 3%.