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NDTV Shares Gain: Hit Upper Circuit Limit

NDTV Shares Gain
Written by Zimmy

NDTV Shares Gain: Hit Upper Circuit Limit: The shares of New Delhi Television Ltd (NDTV) reached the upper circuit level for the third time on Friday, and increased by 5 percent. The shares of the company are rising following Adani Group’s aggressive takeover offer, which culminated in the news of an opening bid on Tuesday for an additional stake of 26 percent. The scrip was trading at 423.85 and surpassed its highest trading threshold for the day, and the latest 52-week high at 423.85, on BSE.

It was an increase of 5 percent over Thursday’s close of 403.70 each. On NSE also the shares of the company climbed 5 percent to hit the limit of circuit’s upper limit of 427.95 and also its 52-week-high on the NSE bourse, trading at 421.90. Over the course of three days, the market value of the company has risen by 371.68 million to 2,732.61 billion on BSE. In the wider market, BSE Sensex climbed 59.15 points or 0.10 percent, to close at 58,833.87.

The NSE Nifty advanced 36.45 points or 0.21 percent to finish at 17,558.90. The day before, Adani group launched the open-ended offer following the indirect acquisition of 29.18 percent of the shares in NDTV. But, NDTV has said that Sebi’s approval from the regulator of markets is “necessary” to allow Adani group company Vishvapradhan Commercial Private Limited (VCPL) to purchase interests in the promoter entity of the company RRPR Holding Pvt Ltd. PTI RAM SUM SHW

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