NDTV surges as digital arm signs deal with Taboola

New Delhi Television jumped 4.21% to Rs 90.40 at 13:52 IST on BSE after the company said that its digital arm NDTV Convergence has signed a deal with Taboola to power content recommendations across its entire network of desktop and mobile sites.

The company made the announcement during market hours today, 30 September 2015.

Meanwhile, the S&P BSE Sensex was up 206.82 points or 0.8% at 25,985.48.

On BSE, so far 50,000 shares were traded in the counter as against average daily volume of 48,492 shares in the past one quarter.

The stock hit a high of Rs 93.80 and a low of Rs 88.55 so far during the day. The stock had hit a 52-week high of Rs 149.60 on 17 April 2015. The stock had hit a 52-week low of Rs 77.30 on 25 August 2015.

The stock had underperformed the market over the past one month till 29 September 2015, sliding 6.42% compared with Sensex's 2.33% fall. The scrip had also underperformed the market in past one quarter, declining 17.14% as against Sensex's 6.75% fall.

The small-cap television broadcaster has equity capital of Rs 25.79 crore. Face value per share is Rs 4.

New Delhi Television's (NDTV) digital arm NDTV Convergence has signed one of the largest deals in new media space with Taboola to power content recommendations across its entire network of desktop and mobile sites. The deal is estimated to be worth Rs 90-100 crore (about $13-15 million) for NDTV over the course of the agreement based on traffic projections across web and mobile, NDTV and Taboola said in a combined statement.

NDTV Convergence has entered into three-year partnership with Taboola, the leading content discovery platform, to power content recommendations to its large audience of over 60 million unique visitors.

Taboola will serve as the exclusive, multi-platform content discovery partner across all its properties. In addition to providing advertisers with an option to now target the premium NDTV audience through native content marketing, Taboola will also work with NDTV to increase user engagement.

On consolidated basis, NDTV reported a net loss of Rs 24.29 crore in Q1 June 2015, higher than net loss of Rs 1.49 crore in Q1 June 2014. Net sales dropped 16.5% to Rs 119.67 crore in Q1 June 2015 over Q1 June 2014.

NDTV is one of the leading news broadcasters in India.

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