Top Story

e4m_logo.png

Home >> Marketing >> Article

Speculation of preferential issue sees ETC Networks shares gain steadily

15-February-2002
Font Size   16
Share
Speculation of preferential issue sees ETC Networks shares gain steadily

ETC Networks Ltd, has been witnessing a steady gain in its share price on indications that the company is on course to make a preferential allotment.

The company was in the final stages of discussions for making preferential allotment for an aggregate amount of Rs 20 crore. According market sources, the company is in talks with three media companies.

Shares of ETC Networks moved up 40 per cent during this week on the Bombay Stock Exchange (BSE) to Rs 32.90 from its Friday's closing of Rs 23.45. On Thursday, the share touched a high of Rs 37 before finishing at Rs 32.25 with 4.49 lakh shares traded on the bourse.

The company has an equity base of Rs 11.69 crore, with promoters holding 48.42 per cent, FIIs/NRI holding 10.46 per cent, financial institutions and mutual funds holding 8.81 per cent, corporate bodies 22.33 per cent and public the rest.

Market sources indicated that the preferential allotment is likely to be made in the price range of Rs 35-33. The proceeds of the allotment were likely to be used to expand ETC's business overseas.

ETC is expected to end the current fiscal on a profitable note. For the year ended March 2001, ETC had a profit after tax of Rs 2.43 crore on a turnover of Rs 53.82 crore. For the nine-month period ending December 31, 2001, ETC had reported a fall in net profit at Rs 1.62 crore (Rs 4.30 crore) on total income of Rs 23.30 crore (Rs 32.60 crore).

ETC Networks, which has two channels — ETC Music and ETC Punjabi — had entered into a tie-up with TV Asia, a 24-hour Hindi channel in the US, to provide content. The deal involves ETC providing two hours of Gurbani music to this channel.

Source: Business Line

Tags

Karthik Raman, Chief Marketing Officer, IDBI Federal Life Insurance, on the brand’s unconventional approach to marketing and priorities for the next year

Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Conceptualised and executed by WATConsult, the campaign focuses on how Lotus Make-up is an enabler for women from various walks of life

iProspect released the third annual 2018 Future Focus Whitepaper geared to examine how machines and technology will impact marketing and advertising in the year ahead

Mavcomm Consulting one of India’s leading Public Relations, Reputation Management& Brand Communications company today announced elevation of Pranjal Dutta to the role of CEO