HT Media jumps after Rakesh Jhunjhunwala picks up stake

HT Media rose 2.77% to Rs 79.65 at 13:57 IST on BSE after high-net worth investor Rakesh Jhunjhunwala picked up 0.64% stake in the company through bulk deals on Friday, 28 February 2014.

Meanwhile, the BSE Sensex was down 189.37 points, or 0.90%, to 20,930.75.

On BSE, so far 4.06 lakh shares were traded in the counter, compared with an average volume of 91,916 shares in the past one quarter.

The stock hit a high of Rs 82.80 and a low of Rs 79.30 so far during the day. The stock hit a 52-week high of Rs 123.70 on 10 May 2013. The stock hit a 52-week low of Rs 69.50 on 21 February 2014.

The stock had outperformed the market over the past one month till 28 February 2014, rising 3.47% compared with the Sensex's 2.11% rise. The scrip had, however, underperformed the market in past one quarter, falling 4.32% as against Sensex's 2.85% rise.

The small-cap company has an equity capital of Rs 46.90 crore. Face value per share is Rs 2.

Rakesh Jhunjhunwala's firm Rare Enterprises picked up 15 lakh shares of HT Media through bulk deal on an average price of Rs 71.25 per share, valuing the transaction at Rs 10.69 crore, as per bulk deal data available with BSE.

On a consolidated basis, HT Media's net profit rose 25% to Rs 67.02 crore on 6.1% increase in net sales to Rs 573.04 crore in Q3 December 2013 over Q3 December 2012.

HT Media is one of India's foremost media companies, and home to three leading newspapers in the country in the English, Hindi and Business news segments - 'Hindustan Times' (English daily), 'Hindustan' (Hindi daily, through a subsidiary) and 'Mint' (business paper). The company also has four FM radio stations - "Fever 104 FM" in Delhi, Mumbai, Bengaluru and Kolkata. The company has also made a foray into the Internetspace through itssubsidiary Firefly e-Ventures and has launched successful portals www.Shine.com, www.HTCampus.com, www.Desimartini.com. These are in addition to the existing websiteslivemint.com, livehindustan.com and hindustantimes.com.

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