Sahara One Media slumps on terminating MoU with Triologic Digital

Sahara One Media & Entertainment slumped 7.71% to Rs 94.85 at 14:15 IST on BSE after the company said it has terminated the MoU entered into on 21 May 2014 with Triologic Digital Media for sale of TV contents etc.

The announcement was made during market hours today, 19 November 2014.

Meanwhile, the S&P BSE Sensex was down 75.68 points or 0.27% at 28,087.61.

On BSE, so far 766 shares were traded in the counter as against average daily volume of 899 shares in the past one quarter.

The stock hit a high of Rs 95 and a low of Rs 92.55 so far during the day. The stock had hit a 52-week high of Rs 118.50 on 11 November 2014. The stock had hit a 52-week low of Rs 52.70 on 31 January 2014.

The stock had outperformed the market over the past one month till 18 November 2014, rising 8.44% compared with the Sensex's 7.87% rise. The scrip had, however, underperformed the market in past one quarter, falling 2.1% as against Sensex's 6.72% rise.

The small-cap firm has an equity capital of Rs 21.53 crore. Face value per share is Rs 10.

The decision by Sahara One was in terms of letter dated 16 August 2014, received from Triologic digital Media. The same has also been approved by the board of directors of the company at their meeting held on 11 November 2014.

Sahara One Media & Entertainment reported net loss of Rs 10.36 crore in Q2 September 2014 compared with net profit of Rs 4.10 crore in Q2 September 2013. Total income dropped 60.3% to Rs 9.99 crore in Q2 September 2014 over Q2 September 2013.

Sahara One Media and Entertainment is an entertainment conglomerates and operates in the Motion Pictures and Television arena.

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