INSUBCONTINENT EXCLUSIVE:
Shares of Jetking Infotrain, an obscure Mumbai-based microcap firm, extended their gravity-defying rally on Thursday, increasing 2% to hit
the upper circuit for the 13th time this month
With Thursdays move, the stock has soared 135.7% in simply over 3 months, driven practically completely by a strong treasury pivot into
Bitcoin.Jetkings shares were trading at a fresh 52-week high of Rs 235.40 on Thursday, more than doubling from Rs 99.89 on April 11
The year-to-date gain now stands at 104.2%, while the 12-month return is an eye-popping 309.4%, catapulting the business market
capitalisation to Rs 139.06 crore.At the heart of this rally is the business high-conviction bet on Bitcoin, which has itself rallied more
than 42% given that April
On Thursday, Bitcoin was trading at $118,631.29
Jetking holds 21 Bitcoins on its books, now valued at around Rs 21.40 croreequivalent to over 15% of its market cap.A crypto pivot in a
mindful market Jetking first signified its shift towards digital possessions late last year when it adopted Bitcoin as its primary treasury
In a country where noted companies normally prevent cryptocurrency exposure, Jetkings move stood out.Earlier this year, the business raised
Rs 6.10 crore through a preferential allotment of 3.96 lakh shares at Rs 154 each
While it did not disclose the identity of the investors, Jetking confirmed that it had deployed the whole proceedsalong with a portion of
its internal accrualstowards obtaining Bitcoin.Live EventsBy March 31, the company held 15.02 Bitcoins
That number increased to 21 by May 28, bought at a typical rate of Rs 64.65 lakh apiece
The existing value of these holdings has swollen thanks to Bitcoins sharp rally, now representing a large piece of Jetkings total market
capitalisation.Fundamentals take a back seat The companys core businessIT hardware traininghas seen just modest development
For the March 2025 quarter, Jetking reported net sales of Rs 5.4 crore, up from Rs 4.4 crore a year earlier
The bottom line stays in the red, with a net loss of Rs 1.3 crore, compared to a Rs 0.6 crore loss in March 2024
Regardless of these basics, the stock has actually become a trader preferred, typically relocating day-to-day circuits
Throughout May and into July, Jetkings shares have mainly hit 2% upper circuits, with only a handful of sessions seeing any downside.A
Tesla-style treasury play Jetkings Bitcoin strategy stimulates comparisons with U.S
tech firms like Tesla, which have actually famously diversified into crypto
In Indias firmly regulated, crypto-wary environment, such a move stays highly unusualespecially for a business of Jetkings size.By
leveraging its balance sheet to get direct exposure to Bitcoin, Jetking has provided outsized returns to its investors, even as its core
organization remains modest
Whether this rally sustains will now depend as much on crypto market belief as on company basics.|MobiKwik shares down 61% from peak, charts
Should you purchase?(Disclaimer: Recommendations, ideas, views and opinions offered by the experts are their own
These do not represent the views of the Economic Times)
