Latest news with #Jetking
Economic Times
17-07-2025
- Business
- Economic Times
Bitcoin bet makes microcap stock double money in 3 months, hits upper circuit for 13th day
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Jetking Infotrain , a little-known Mumbai-based microcap firm, extended their gravity-defying rally on Thursday, rising 2% to hit the upper circuit for the 13th time this month. With Thursday's move, the stock has soared 135.7% in just over three months, driven almost entirely by a bold treasury pivot into 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 company's market capitalisation to Rs 139.06 the heart of this rally is the company's high-conviction bet on Bitcoin, which has itself rallied more than 42% since April. On Thursday, Bitcoin was trading at $118,631.29. Jetking holds 21 Bitcoins on its books, now valued at around Rs 21.40 crore—equivalent to over 15% of its market first signaled its shift towards digital assets late last year when it adopted Bitcoin as its primary treasury reserve asset. In a country where listed firms typically avoid cryptocurrency exposure, Jetking's move stood this year, the company 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 entire proceeds—along with a portion of its internal accruals—towards acquiring March 31, the company held 15.02 Bitcoins. That number rose to 21 by May 28, purchased at an average price of Rs 64.65 lakh apiece. The current value of these holdings has ballooned thanks to Bitcoin's sharp rally, now representing a sizeable chunk of Jetking's overall market company's core business—IT hardware training—has seen only modest growth. For the March 2025 quarter, Jetking reported net sales of Rs 5.4 crore, up from Rs 4.4 crore a year earlier. However, the bottom line remains in the red, with a net loss of Rs 1.3 crore, compared to a Rs 0.6 crore loss in March these fundamentals, the stock has become a trader favourite, often moving in daily circuits. Throughout May and into July, Jetking's shares have mostly hit 2% upper circuits, with only a handful of sessions seeing any Bitcoin strategy evokes comparisons with U.S. tech firms like Tesla, which have famously diversified into crypto. But in India's tightly regulated, crypto-wary environment, such a move remains highly unusual—especially for a company of Jetking's leveraging its balance sheet to gain exposure to Bitcoin, Jetking has delivered outsized returns to its investors, even as its core business remains modest. Whether this rally sustains will now depend as much on crypto market sentiment as on company read | MobiKwik shares down 61% from peak, charts hint at upside till Rs 300. Should you buy?
Time of India
17-07-2025
- Business
- Time of India
Bitcoin bet makes microcap stock double money in 3 months, hits upper circuit for 13th day
Shares of Jetking Infotrain , a little-known Mumbai-based microcap firm, extended their gravity-defying rally on Thursday, rising 2% to hit the upper circuit for the 13th time this month. With Thursday's move, the stock has soared 135.7% in just over three months, driven almost entirely by a bold treasury pivot into Bitcoin. Jetking's 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 company's market capitalisation to Rs 139.06 crore. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Data Science Data Analytics Digital Marketing Healthcare others Degree Management Finance MCA Technology Others Project Management Public Policy Product Management CXO Data Science Cybersecurity MBA Leadership Operations Management healthcare Design Thinking Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details At the heart of this rally is the company's high-conviction bet on Bitcoin, which has itself rallied more than 42% since April. On Thursday, Bitcoin was trading at $118,631.29. Jetking holds 21 Bitcoins on its books, now valued at around Rs 21.40 crore—equivalent to over 15% of its market cap. A crypto pivot in a cautious market Jetking first signaled its shift towards digital assets late last year when it adopted Bitcoin as its primary treasury reserve asset. In a country where listed firms typically avoid cryptocurrency exposure, Jetking's move stood out. Earlier this year, the company 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 entire proceeds—along with a portion of its internal accruals—towards acquiring Bitcoin. By March 31, the company held 15.02 Bitcoins. That number rose to 21 by May 28, purchased at an average price of Rs 64.65 lakh apiece. The current value of these holdings has ballooned thanks to Bitcoin's sharp rally, now representing a sizeable chunk of Jetking's overall market capitalisation. Fundamentals take a back seat The company's core business—IT hardware training—has seen only modest growth. For the March 2025 quarter, Jetking reported net sales of Rs 5.4 crore, up from Rs 4.4 crore a year earlier. However, the bottom line remains in the red, with a net loss of Rs 1.3 crore, compared to a Rs 0.6 crore loss in March 2024. Despite these fundamentals, the stock has become a trader favourite, often moving in daily circuits. Throughout May and into July, Jetking's shares have mostly hit 2% upper circuits, with only a handful of sessions seeing any downside. A Tesla-style treasury play Jetking's Bitcoin strategy evokes comparisons with U.S. tech firms like Tesla, which have famously diversified into crypto. But in India's tightly regulated, crypto-wary environment, such a move remains highly unusual—especially for a company of Jetking's size. By leveraging its balance sheet to gain exposure to Bitcoin, Jetking has delivered outsized returns to its investors, even as its core business remains modest. Whether this rally sustains will now depend as much on crypto market sentiment as on company fundamentals. Also read | MobiKwik shares down 61% from peak, charts hint at upside till Rs 300. Should you buy?
Yahoo
02-07-2025
- Business
- Yahoo
‘Never selling' investor outlines ambitious Bitcoin price targets
'Never selling' investor outlines ambitious Bitcoin price targets originally appeared on TheStreet. Siddarth Bharwani, Joint Managing Director and CFO of Jetking, told TheStreet Roundtable that the classic Bitcoin cycle theory is 'getting slightly disrupted' as geopolitical turmoil fails to dent the market. Jetking designated Bitcoin as its primary treasury asset in December 2024. Under Siddarth Bharwani's phased plan, the company aims to hold 210 Bitcoin by the end of 2025 and amass 18,000 Bitcoin by 2030. 'The world went through a storm in the last six months and Bitcoin did not have a very extreme reaction,' he said, contrasting today's stability with the 60% – 70% COVID-era sell-off. Bharwani argues that Bitcoin's drivers are shifting. '2010 to 2020 was all the community and retail driving Bitcoin. 2020 to 2030 is going to be corporations driving Bitcoin. And 2030 onwards will be countries driving Bitcoin,' he said. That evolution reflects growing institutional involvement, which he believes will 'start getting slightly less volatile than it was before.' As evidence, he pointed to recent tariff wars and conflicts in the Middle East failing to provoke sharp price swings. 'If you see the world went through a storm, Bitcoin was still chilling,' he said, underscoring the asset's maturing market dynamics. When asked where Bitcoin tops in the current cycle, Bharwani offered a short-term target of about $150,000 to $160,000. 'I don't think the market cap will move three or four times in this year,' he noted, though he acknowledged higher moves over a longer horizon. Looking further ahead, he forecast that by the 2032 halving cycle — 'two cycles away' — Bitcoin's market capitalization could reach $9 trillion to $10 trillion, implying a price of roughly $600,000 to $700,000. 'That is conservative,' he said, contrasting his view with more bullish predictions of $2 million or $3 million. 'Never selling' investor outlines ambitious Bitcoin price targets first appeared on TheStreet on Jul 1, 2025 This story was originally reported by TheStreet on Jul 1, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move
Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move originally appeared on TheStreet. Siddarth Bharwani, Joint Managing Director and CFO of Jetking, expressed astonishment at Pakistan's recent decision to create a national Bitcoin reserve with MicroStrategy's Michael Saylor as an advisor. Jetking, a Mumbai-based IT education firm, has made headlines as India's first publicly listed company to adopt a Bitcoin treasury strategy. The company aims to hold 210 Bitcoin by 2025, mirroring MicroStrategy's approach. "I was shocked when I heard that," Bharwani said during a recent conversation with TheStreet Roundtable. "It was impressive to see a country like Pakistan, which generally does not have the best economic condition, to come out and take such a bold move." Pakistan's aggressive push toward Bitcoin adoption highlights the growing regional pressure on India. Bharwani believes this development should prompt India's government and financial institutions to quickly clarify their own Bitcoin stance. "Our neighboring countries having this kind of exposure towards Bitcoin or blockchain as an asset, as a category — I think India has to take notice as to why and how did they implement it," he noted. Bharwani also pointed out Bhutan's substantial Bitcoin investment as another critical sign for India. "Bhutan is holding about 14,000 Bitcoin, if I'm not mistaken. And they're creating a mindful city about two hours away from the capital," he said. He anticipates significant announcements from Indian authorities — including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Ministry of Finance — in the near term. "I think in the next two to three months, we will have some view from RBI, from SEBI, from the government ministry of finance around how they're looking at Bitcoin," Bharwani stated. Despite acknowledging India's bureaucratic complexities, Bharwani remains optimistic. "It takes time to implement things in such a big country," he explained, but "when we do come out with the clarity, it will be a big one. It will be something that India will knock down." Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move first appeared on TheStreet on Jun 30, 2025 This story was originally reported by TheStreet on Jun 30, 2025, where it first appeared.
Yahoo
30-06-2025
- Business
- Yahoo
Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move
Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move originally appeared on TheStreet. Siddarth Bharwani, Joint Managing Director and CFO of Jetking, expressed astonishment at Pakistan's recent decision to create a national Bitcoin reserve with MicroStrategy's Michael Saylor as an advisor. Jetking, a Mumbai-based IT education firm, has made headlines as India's first publicly listed company to adopt a Bitcoin treasury strategy. The company aims to hold 210 Bitcoin by 2025, mirroring MicroStrategy's approach. "I was shocked when I heard that," Bharwani said during a recent conversation with TheStreet Roundtable. "It was impressive to see a country like Pakistan, which generally does not have the best economic condition, to come out and take such a bold move." Pakistan's aggressive push toward Bitcoin adoption highlights the growing regional pressure on India. Bharwani believes this development should prompt India's government and financial institutions to quickly clarify their own Bitcoin stance. "Our neighboring countries having this kind of exposure towards Bitcoin or blockchain as an asset, as a category — I think India has to take notice as to why and how did they implement it," he noted. Bharwani also pointed out Bhutan's substantial Bitcoin investment as another critical sign for India. "Bhutan is holding about 14,000 Bitcoin, if I'm not mistaken. And they're creating a mindful city about two hours away from the capital," he said. He anticipates significant announcements from Indian authorities — including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Ministry of Finance — in the near term. "I think in the next two to three months, we will have some view from RBI, from SEBI, from the government ministry of finance around how they're looking at Bitcoin," Bharwani stated. Despite acknowledging India's bureaucratic complexities, Bharwani remains optimistic. "It takes time to implement things in such a big country," he explained, but "when we do come out with the clarity, it will be a big one. It will be something that India will knock down." Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move first appeared on TheStreet on Jun 30, 2025 This story was originally reported by TheStreet on Jun 30, 2025, where it first appeared. Sign in to access your portfolio
