UTV beams on joint venture with Malaysian firm

DALAL STREET SPIKES

UTV was up 6.56 per cent to 168.15 after it announced that it has entered into a joint venture with a Malaysian company. The scrip closed at Rs 157.80 on Friday.

UTV has formed a joint venture with Astro All Asian Networks Plc of Malaysia to introduce two children's TV channels in South East Asia.

According to the agreement, Astro All Asian Networks would make the capital investments and UTV would be focussing on the content and marketing.

UTV posted a net profit of Rs 3.50 crore on net sales of Rs 42.57 crore for the quarter ended June 2005.