Advertisement
Tuesday, Nov 29, 2022
Outlook.com
Outlook.com

NDTV Stock Jumps Five Percent Amid Takeover Buzz

SpiceJet stock, however, fell by 1.51 per cent to close the day at Rs 143.35 on BSE. Intra-day, it lost 2.67 per cent to Rs 141.65.

NDTV Stock Jumps Five Percent Amid Takeover Buzz
NDTV Stock Jumps Five Percent Amid Takeover Buzz
outlookindia.com
2017-09-22T17:11:53+05:30

Shares of NDTV jumped almost 5 per cent today amid reports that SpiceJet's Ajay Singh is set to take control of the media firm even as the company denied any such move.

Following the buzz, shares of the company rose by 4.94 per cent to Rs 53.10 -- its upper circuit limit -- on BSE.

On NSE, the stock gained 4.96 per cent to Rs 52.85 -- its highest trading permissible limit for the day.

SpiceJet stock, however, fell by 1.51 per cent to close the day at Rs 143.35 on BSE. Intra-day, it lost 2.67 per cent to Rs 141.65.

According to reports, Singh is set to take a substantial stake in NDTV.

In a filing to the BSE, NDTV said: "We wish to inform you that the promoters of the company have not entered into any agreement for sale of their stake in the company to any person".

It came in response to a clarification sought by BSE on reports suggesting stake purchase by Singh in the company.

"The company is mindful of its obligations under clause 30 of the listing regulations and shall promptly intimate you of any event required which is required to be disclosed under the said regulations," NDTV said in the filing.

When contacted, a SpiceJet spokesperson said the reports are "absolutely false and baseless".

Singh, the co-founder and chairman of SpiceJet, has been instrumental in turning around the fortunes of the no-frills airline.

PTI

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement