NDTV, the country’s leading news channel, has surged in the market after acquiring 29.18 percent stake in NDTV, a company under Gautam Adani’s group. Vishwapradhan Commercial Private Limited, a subsidiary of Adani Media Network Limited, bought the stake in NDTV. NDTV also became a partner for Adani, with Vishwapradhan Commercial Pvt Ltd acquiring 99.5 per cent stake in RRP Holding Pvt Ltd, which holds 29.18 per cent stake in NDTV. Adani has also opened an open offer for 26 percent stake.
Following this acquisition, NDTV shares ( NDTV ), which were up 5 percent yesterday, also jumped 5 percent in early trade today. NDTV shares have given investors a gain of 42 percent in the last one month. The television broadcasting & software production company’s stock hit a 13-year high on earlier gains.
A jump of 392 percent in one year
NDTV, which has performed well in the stock market in the last one year, has presented a gain of 392 percent to the investors. That is, NDTV’s share price rose from Rs 78.75 to Rs 388.20 while the benchmark index advanced by 5.35 percent. NDTV shares also saw a gain of 186 percent in six months. The stock, which had been advancing in the stock market earlier, had hit a record high of Rs 512 on January 4, 2008.