TV Today advances after HDFC MF raises stake

TV Today Network rose 2.19% to Rs 263.75 at 14:33 IST on BSE after HDFC mutual fund raised stake in the company.

TV Today Network made the disclosure during market hours today, 26 June 2019.

Meanwhile, S&P BSE Sensex was up 97.39 points or 0.25% at 39,532.33.

On BSE, 9597 shares were traded in TV Today Network counter, compared to a 2-week average of 1872 shares. The share price hit an intraday high of Rs 285.75 and an intraday low of Rs 259.65. It hit a 52-week high of Rs 471 on 4 July 2018 and a 52-week low of Rs 237.20 on 21 June 2019.

HDFC mutual fund acquired 12.78 lakh equity shares, or 2.14% equity, of TV Today Network through open market purchases on 24 June 2019.

Post transaction, HDFC mutual fund's stake in TV Today Network has increased to 7.14% from 5% earlier.

TV Today Network's net profit fell 40.3% to Rs 22.07 crore on a 8.6% decline in net sales to Rs 165.65 crore in Q4 March 2019 over Q4 March 2018.

TV Today Network is engaged in television programming and broadcasting activities.

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