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| Stake sale boosts NDTV |
| BS Reporter / Mumbai Nov 20, 2009, 16:00 IST |
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NDTV ended at Rs 144, higher by Rs 10 or 7%, on the BSE.
The stock had opened at Rs 145 and touched an intra-day high of RS 149 and a low of Rs 135.
The counter saw trading volumes of 764,358 shares as against the two-week average of 70,728 shares.
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(Updated at 1025 am)
NDTV has raced ahead on the bourses on news that US-based media company Scripps Networks Interactive has acquired a 69 per cent stake in NDTV Group’s programming subsidiary, NDTV Lifestyle. The latter operates NDTV Good Times, a lifestyle channel.
The stock is quoting at Rs 139, higher by Rs 5 or 4.1%, on the BSE. It had opened at Rs 145, which also happened to be the day's high, and has touched a low of Rs 135.
The deal is worth $55 million (around Rs 260 crore) and is expected to be completed by the end of the first quarter of 2010. NDTV Group would retain a 31 per cent stake in the joint venture, a company statement said.
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