NDTV extends losses; falls 4% to Rs 57 levels

Shares of NDTV extended losses for the second straight session on Tuesday after the Central Bureau of Investigation (CBI) on Monday raided the residence of senior journalist and co-founder of listed broadcaster Prannoy Roy and other premises linked to the organisation.

The stock fell as much as 4.4% to Rs 57.75 on the BSE after slipping nearly 3% in the previous session. 

The investigation agency has registered a case against Roy, his wife and NDTV co-promoter Radhika Roy, their private firm RRPR Holdings and NDTV India. The First Information Report (FIR) also mentions “unnamed ICICI Bank officials” among the suspects. CLICK HERE FOR THE FULL REPORT 

"This morning, the CBI stepped up the concerted harassment of NDTV and its promoters based on the same old endless false accusations. NDTV and its promoters will fight tirelessly against this witch-hunt by multiple agencies. We will not succumb to these attempts to blatantly undermine democracy and free speech in India," NDTV said in a BSE filing posted yesterday. CLICK HERE FOR THE REPORT

Meanwhile, NDTV took its business news channel, NDTV Profit, off air yesterday. NDTV Profit’s trading hours business programming has been transferred from Profit and will now feature as regular business and finance segments on NDTV 24x7, while Prime will continue as a channel, says the company’s website. CLICK HERE FOR MORE

At 11:45 am, the stock was trading at Rs 58, down 3% on the BSE.