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NDTV zooms 75% in four days on heavy volumes

The stock rallied 9% to Rs 62.20 on Wednesday, surging 75% from Rs 35.45 on August 31, 2017.

SI Reporter  |  Mumbai 

NDTV zooms 75% in four days on heavy volumes

New Delhi Television (NDTV) has rallied 9% to Rs 62.20 on Wednesday, extending its three-session long gains of over 50%  on BSE, in an otherwise weak market on back of heavy volumes. The trading volumes on the counter nearly doubled with a combined 769,529 shares have already changed hands on BSE and NSE in first 10 minutes of trade.

In past four trading sessions, the stock zoomed 75% from Rs 35.45 on Thursday, August 31, 2017. On comparison, the S&P BSE Sensex was down 0.20% during the period.

On September 1, informed the stock exchanges that the Delhi High Court vide its order dated August 31, 2017 upheld a decision of the Income Tax Appellate Tribunal (ITDT), allowing the deduction which had been rejected by the Income Tax Department.

The Income Tax Department (Department) had filed appeal before the Hon'ble High Court of Delhi against an order dated July 26, 2004 passed by the ITAT allowing claim of deduction of Rs 15.76 crore by under section 80HHE of the Income Act, 1961 for Assessment Year 1999-2000, it added.

According to Business Standard new report, the Securities and Exchange Board of India (Sebi) has issued a show-cause notice to Vishvapradhan Commercial (VCPL) for not making public announcement and open offer after acquiring control over substantial promoter holding in

has said this in a letter issued to the complainant, Quantum Securities, a minority shareholder of the broadcaster, in connection with a writ petition pending before the Delhi High Court. CLICK HERE TO READ FULL REPORT.

The BSE said that exchange has sought clarification from New Delhi Television Ltd with respect to article appearing on Business Standard on September 03, 2017 titled "issues show-cause notice to Vishvapradhan in case." The reply is awaited.

First Published: Wed, September 06 2017. 09:40 IST