Reliance MediaWorks tumbles after setting record date for rights issue

The announcement was made after market hours on Monday, 15 July 2013.

Meanwhile, the S&P BSE Sensex was down 233.41 points or 1.17% at 19,801.07.

On BSE, 5,976 shares were traded in the counter as against average daily volume of 74,401 shares in the past one quarter.

The stock hit a high of Rs 56.80 so far during the day. The stock had hit a 52-week high of Rs 103.80 on 3 December 2012. The stock had hit a 52-week low of Rs 41.80 on 25 June 2013.

The stock had outperformed the market over the past one month till 15 July 2013, surging 27.84% compared with the Sensex's 4.47% gain. The scrip had also outperformed the market in past one quarter, jumping 23.39% as against Sensex's 9.13% rally.

The small-cap company has equity capital of Rs 23.06 crore. Face value per share is Rs 5.

Reliance MediaWorks' board before trading hours on Monday, 15 July 2013 announced a rights issue of equity shares in the ratio of 13 equity shares for every 4 equity shares, at an issue price of Rs 40 per share.

Reliance MediaWorks reported consolidated net loss of Rs 219.20 crore in the quarter ended 31 March 2013, higher than net loss of Rs 154.15 crore in the quarter ended 31 March 2012. Net sales declined 18.95% to Rs 140.55 crore in the quarter ended 31 March 2013 over the quarter ended 31 March 2012.

Reliance MediaWorks is a film and entertainment services company.

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