Sri Adhikari Rallies On Stake Sale Rumour

Sri Adhikari Brothers Network Ltd (SABTNL), an integrated television content production house and broadcaster, is once again in the limelight.

The scrip rallied on sustained buying support today, following the rumours that the company is set to sell equity stake to a strategic partner.

The stock closed the day at Rs 159.20, a gain of 9.24 per cent over its previous close of Rs 145.40. A total of 4.69 lakh shares changed hands on the BSE today. In the last 16 sessions between June 3 and June 24, 2002, the scrip has risen by 26.5 per cent. It closed at Rs 159.20 today from Rs 116.95 recorded on June 3, 2002.

 

Media analysts said the surge over the last few sessions is purely on rumours that the company may sell equity stake to a strategic investor. These rumours have been doing the sounds for sometime now. The strategic partner is not only expected to infuse funds, but also technical know-how, expertise etc.

Analysts said there is no change in the company