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GTPL Hathway jumps after content tie up with Nagra

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GTPL Hathway rose 3.69% to Rs 147.55 at 10:35 on after the company said it partnered with Nagra for the delivery of and interactive content directly to TV without the need of a set top box.

The announcement was made after market hours on Friday, 4 August 2017.

Meanwhile, the S&P Sensex was up 26.20 points, or 0.08% to 32,351.61.

On the BSE, 16,000 shares were traded in the counter so far, compared with average daily volumes of 71,000 shares in the past two weeks. The stock had hit a high of Rs 148.50 and a low of Rs 142.50 so far during the day.

Shares of GTPL Hathway listed on the stock exchanges on 4 July 2017. The stock debuted on a flat note at Rs 170 compared with the initial public offer (IPO) price of Rs 170. It settled at Rs 171.65 on BSE, a premium of 0.97% over the IPO price.

The stock hit a record high of Rs 190.30 on 11 July 2017. The stock hit a record low of Rs 141 on 4 August 2017. The stock had underperformed the market over the past one month till 4 August 2017, falling 17.17% compared with 3.05% rise in the Sensex.

The small-cap company has equity capital of Rs 112.46 crore. Face value per share is Rs 10.

GTPL Hathway said it is going to associate with Nagra, a TV division of the Kudelski Group and Samsung, to use TVkey. GTPL Hathway will be able to use TVkey which will enable it to expand its reach to purchasers of new Samsung TV sets. TVkey uses advanced technology for securing high value content and will be available at an attractive price point. It will give consumers an easy hassle free access to the premium Pay-TV content on latest Samsung TV sets without the use of a set top box and associated cables along with it.

GTPL Hathway's net profit rose 223.13% to Rs 20.26 crore on 34.21% increase in net sales to Rs 157.99 crore in Q4 March 2017 over Q4 March 2016.

GTPL Hathway is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 07 2017. 10:39 IST