Stake Sale Buzz Props Adhikari Brothers

The Sri Adhikari Brothers Television Network (SABTNL) scrip rose 4.81 per cent to Rs 141.60 on the Bombay Stock Exchange (BSE) in the afternoon hours of trading today, following rumours that the company may hive off stake to a strategic partner.

The scrip of the satellite channel recorded volumes of over 1.22 lakh shares. The scrip finally closed the day marginally up at 138.90 up 2.81 per cent. A total of 1.56 lakh shares changed hands on the bourse today. SABTNL rose 41.4 per cent from Rs 104.80 on June 6, 2002, to its intra-day high of Rs 148.15 today.

 

Market and media analysts said the surge over the last few days is purely based on rumours that the company is likely to sell a stake to a strategic investor. According to market talk, the company is in talks with 3-4 media companies, including Zee Telefilms, which is believed to be a frontrunner in acquiring stake in the company.

As for the company, it plans to induct a strategic partner not for money, but to add value to the channel. The company's new serials are slowly picking up. Some serials introduced by the company such as 'Doli Leke Aaye Dulaniya' and 'Sajjan Tum Jooth Mat Bolo' are doing well. Both the serials are telecast at prime time between 8 and 9.30 pm.