Why are Signpost India shares rising? Stock jumps 10% in trade today

Signpost India shares rose 10.4 per cent on Monday, after the company received an exclusive advertising rights for all the 67 metro stations operated by Bengaluru

Don't want to miss the best from Business Standard?

Signpost India shares rose 10.4 per cent on Monday, logging an intra-day high at ₹311.9 per share on BSE. At 10:24 AM, Signpost India’s share price was trading 2.73 per cent higher at ₹290 per share. 

 

In comparison, BSE Sensex was up 0.24 per cent at 81,499.33. The market capitalisation of the company stood at ₹1,561.81 crore. The 52-week high of the stock was at ₹400.5 per share, and the 52-week low at ₹179.65.

 

In a year, Signpost India shares have gained 15.5 per cent as compared to Sensex’s decline of 0.47 per cent.  

Why are Signpost India shares rising?

The upward movement in stock came after the company received an exclusive advertising rights for all the 67 metro stations operated by Bengaluru Metro Rail Corporation Limited (BMRCL). The exclusive rights contract is expected to have a revenue potential of ₹600 crore to ₹700 crore (excluding GST) over the tenure of the contract.

 

“We are pleased to inform you that the Company has been awarded the exclusive advertising rights for

all the 67 key metro stations operated by BMRCL, which attracts around 3 crore monthly ridership, for a tenure of 9 (nine) years till 2034,” the filing read. 

 

BMRCL is a Special Purpose Vehicle formed as a joint venture between the Government of Karnataka and the Government of India for the implementation and operation of the Bangalore Metro Rail Project, popularly known as 'Namma Metro'.

 

The project will offer a cumulative display space—both static and digital—aggregating to over 95,000 square feet, across strategically located high-footfall metro stations in the city of Bengaluru. “This development is aligned with our growth strategy to expand our presence across major urban transit ecosystems and positions the company as the fastest growing player in the Out-of-Home (OOH) advertising industry,” the filing read. 

 

Signpost India is a digital out-of-home (DOOH) advertising sector, a rapidly evolving industry known for delivering strong returns in the global media market. The company has consistently driven innovation, setting new benchmarks with India’s first and largest main street DOOH billboards, the world’s largest digital bus queue shelter, and pioneering hybrid mobility solutions like e-bikes.