Toyam Sports shares hit upper circuit; stock rebound 17% in four sessions

Shares of Toyam Sports hit an upper circuit on Wednesday, marking the second straight session of being locked in the buyer's circuit. The stock rebounded about 17 per cent in just four trading sessions, from its 52-week lows hit in the previous week, according to data.

Toyam Sports' stock jumped about 5 per cent, locked in the upper circuit limit, at Rs 6.61 with a total market capitalization close to Rs 375 crore. The scrip had settled at 6.30 in the previous trading session. The stock hit its 52-week low at Rs 5.67 on Thursday, October 13.

New Delhi-based Toyam Sports is the only listed company, on Indian bourses, engaged in various sports production, promotion and management. It focuses on sports marketing and management activities, as well as ventures into hospitality, healthcare, KIL arena, gaming and merchandising across the country.

Toyam Sports' sports web series, ‘Kumite 1 Warrior Hunt,’ has been chosen as an official entry for the ‘Kenya International Sports Film Festival (KISFF)’, the premier African film festival, said the company in an exchange filing on Tuesday. It stands as India's first sports web series which was released in February 2023, said the filing.

"The web series is slated for screening, followed by an engaging panel discussion with the director and producers, on October 29, 2023 in Nairobi, Kenya. In 2023, the KISFF received a total of 1400 submissions from 110 countries," it added.

"I am deeply honoured and appreciative of our sports web series being selected for the foremost film festival in Africa. This reaffirms our dedication to showcasing the strength and enthusiasm of sports on an international platform," said Mohamedali Budhwani, CMD at Toyam Sports.

Also read: IRM Energy IPO books 50% in first two hours; retailers & NIIs lead bidders

Also read: Tata Steel shares: After marginal fall from 52-week high, is the Tata Group stock headed toward Rs 150 mark?