NDTV shares continue to climb; hit upper circuit for 7th day

NEW DELHI: Shares of New Delhi Television Ltd (NDTV) continued to march higher on Friday, climbing 5 per cent, to hit its upper circuit limit.
The company’s shares have been rising after Adani group’s hostile takeover bid with the announcement of an open offer last week to acquire an additional 26 per cent stake.
The stock jumped 4.99 per cent to Rs 515.10 — its upper circuit limit as well as 52-week high level — on the BSE.
On the NSE, it advanced 5 per cent to hit its upper circuit as also 52-week high of Rs 519.80.
The BSE Sensex inched up 36.74 points or 0.06 per cent to settle at 58,803.33.
The stock has been rallying since Tuesday last week (August 23) and has jumped 40.66 per cent till now. During this period, the company’s market valuation has jumped Rs 960.91 crore to Rs 3,320.91 crore.
So far this year, the stock has rallied 346.94 per cent.
On Tuesday last week, Adani group launched the open offer after an indirect acquisition of 29.18 per cent shareholding in NDTV.
NDTV founder promoters have asserted that the deal cannot go ahead without Sebi’s nod.

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