Stock Report

Bright Outdoor Media Ltd wins Exclusive Advertising Rights Across Navi Mumbai Metro Line 1

Posted On : 2024-10-09 09:43:50( TIMEZONE : IST )

Bright Outdoor Media Limited proudly announces its latest milestone, having won the prestigious long-term advertising rights for Navi Mumbai Metro Line 1, awarded by the City & Industrial Development Corporation of Maharashtra Limited (CIDCO Ltd). This significant achievement grants Bright Outdoor exclusive advertising rights across the entire metro line 1, spanning stations, pillars, and viaducts, with a total advertisement area of over 85,000 square foot.

The Navi Mumbai Metro Line 1 consists of 11 stations, including Belapur Terminal, RBI Colony, Belpada, Utsav Chowk, Kendriya Vihar, Kharghar Village, Central Park, Pethpada, Amandoot, Pethali-Taloja, and Pendhar. Advertising spaces will be strategically placed in station areas, on pillars, and along the viaducts, ensuring widespread visibility and impactful brand exposure.

Dr. Yogesh Lakhani, Chairman and Managing Director of Bright Outdoor Media Limited, expressed his pride, stating: "Winning this prestigious tender is a proud moment for Bright Outdoor Media. We are one of the few OOH companies that have partnered with major public infrastructure projects, including Indian Railways, BEST, Mono Rail, MBPT, and now the Metro. This contract strengthens our position and enhances our ability to deliver exceptional services to our customers across diverse sectors."

In addition to securing prime advertising spaces, this contract comes at a pivotal time for the region, as the upcoming Navi Mumbai International Airport is expected to significantly increase footfall across these metro stations. This surge in traffic will enhance the visibility of brands and businesses advertising along the metro line, positioning Bright Outdoor Media at the center of a rapidly growing marketing ecosystem. The influx of commuters and travellers will create unparalleled opportunities for advertisers to connect with a diverse and dynamic audience, further boosting the overall impact of the out-of-home (OOH) advertising landscape in the region.

As the first outdoor media company in India to be listed on the Bombay Stock Exchange, Bright Outdoor Media Limited continues its trailblazing expansion. The company's commitment to worldclass service, innovation, and meeting the highest standards of client satisfaction remains central to its growth strategy. This new opportunity with Navi Mumbai Metro will further solidify Bright Outdoor Media's position as a market leader in the out-of-home advertising space while driving value for its shareholders and stakeholders.

Shares of Bright Outdoor Media Limited was last trading in BSE at Rs. 483.00 as compared to the previous close of Rs. 499.00. The total number of shares traded during the day was 1000 in over 4 trades.

The stock hit an intraday high of Rs. 485.40 and intraday low of 483.00. The net turnover during the day was Rs. 484375.00.