D B Corp gains after acquiring 14 frequencies in phase III FM radio auction

D B Corp rose 1.97% to Rs 315.35 at 09:23 IST on BSE after the company announced yesterday, 12 October 2015 that it has acquired 14 frequencies in the phase III of FM radio auction.

The announcement was made after market hours yesterday, 12 October 2015.

Meanwhile, the BSE Sensex was down 18.24 points, or 0.07%, to 26,885.87

On BSE, so far 4,886 shares were traded in the counter, compared with an average volume of 5,467 shares in the past one quarter.

The stock hit a high of Rs 324.60 and a low of Rs 312.15 so far during the day. The stock hit a 52-week low of Rs 296.05 on 25 August 2015. The stock hit a record high of Rs 422.95 on 1 January 2015.

The mid-cap print media company has an equity capital of Rs 183.70 crore. Face value per share is Rs 10.

D B Corp said that out of the 14 frequencies acquired in the phase III of FM radio auction, 9 frequencies have been acquired in Maharashtra. The company's FDI/FII investment limit is expected to increase to 26% from the current 20%, after transition to phase III, D B Corp said.

D B Corp's consolidated net profit fell 16% to Rs 66.46 crore on 3.7% fall in total income to Rs 480.20 crore in Q1 June 2015 over Q1 June 2014.

D B Corp is India's largest print media company that publishes 6 newspapers with Dainik Bhaskar 40 editions, Divya Bhaskar 7 editions and Divya Marathi 7 editions with 206 sub-editions in 4 multiple languages across 14 states in India.

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