Reliance Mediaworks shares jump on delisting plans

Reuters Market Eye - Reliance MediaWorks shares rose as much as 19.9 percent after the company said late on Friday that its board will consider delisting of shares at a meeting later in the day.

Reliance MediaWorks said in an exchange filing that its board would meet on Monday to consider delisting of equity shares of the company from the stock exchanges.

The promoters hold 73.30 percent stake in the company and market participants say the delisting would be at a "good" premium from the current market price.

At 10:47 a.m., shares of Reliance MediaWorks were up 15.8 percent at 53.80 rupees.

(Reporting by Indulal P)