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20% single day jump in NDTV stock sets market abuzz

25-July-2014
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20% single day jump in NDTV stock sets market abuzz

New Delhi Television’s (NDTV) shares closed at 87.65 on July 24, 2014, after opening at 72.6. Till midday, NDTV’s shares were trading at the 72-73 level, but post 1.30 pm, the shares saw a steep jump to over 85 level, this has led to market speculation on a yet unknown entity buying stake in the company, there have also been rumours on the possibility of an acquisition. Those rumours were earlier quashed by senior NDTV officials.

Reliance Industries has also been in the news with its acquisition of a majority control of Network18 Media & Investments and TV18 Broadcast through its arm Independent Media Trust (IMT).

NDTV is the brainchild of its Executive Chairperson, Prannoy Roy, and Managing Director and Executive Co-Chairperson, Radhika Roy. Along with Prannoy and Radhika, KVL Narayan Rao, Executive Vice-Chairperson has also played a vital role in the transition and growth of NDTV from a production house to a media network. Executive Director & CEO Vikramaditya Chandra has led NDTV beyond news, in the arenas of Lifestyle, Convergence and Outsourcing.

NDTV’s current market capitalisation stands at Rs 565.09 crore. The company reported a consolidated sales of Rs 121.36 crore and a net Loss of Rs -33.12 crore for the quarter ended March 2014.

There was no response from NDTV at the time of filing this report.

 

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