Print media foray reports spur Raj Television

DALAL STREET SPIKES

The share price of Raj Television Network on Thursday shot up 19 per cent to close at Rs 116.55 on reports that the company plans to enter the print media segment and is open to acquiring a Tamil newspaper.

According to reports, the company is looking to dilute 5-10 per cent of its equity stake to private equity players to raise Rs 50-100 crore. According to BSE data, the promoters of the company held 72.5 per cent stake as of June 30, 2008. The stock touched a low of Rs 100 and hit the 20 per cent upper circuit of Rs 117.50, during the day.