TV Today up on Reliance Cap open offer

DALAL STREET SPIKES

The share prices of the TV Today Network rose on account of Reliance Capital's open offer and closed at Rs 147.15, higher by 4.99 per cent compared with its Tuesday close. The stock opened at Rs 145 and hit its circuit limit of Rs 154.15 supported by heavy volumes of 7.98 lakh shares.

According to a BSE announcement, Reliance Capital has informed the company at present holds approximately 12 per cent stake in TV Today Network and wishes to increase its stake beyond the threshold of 15 per cent limit specified under the Sebi Takeover Regulations. The open offer will be made for acquisition of the mandatory 20 per cent share capital of TV Today.