The shares of NDTV closed with gains of 12 per cent while the benchmark indices closed up around 0.3 per cent.
The company on June 1, 2017, informed its shareholders of the temporary discontinuation of regular business programming on the business news channel. NDTV in its stock exchange intimation dated June 1, 2017 had siad that it had decided to transfer its business programming from Profit to regular business and finance segments on NDTV 24×7.
“NDTV does not rule out revivng a business channel when the circumstances are appropriate,” it had said back then.
Billionaire Gautam Adani-led Adani Group late last year announced the acquisition of a 27.26 per cent equity stake in NDTV from founders Prannoy Roy and Radhika Roy. The acquisition was completed on December 30, 2022 on the block deal window of the NSE. It owns a 64.71% stake in the TV news company.
RRPR Holding Pvt Ltd is the firm that the Adani Group indirectly acquired in August 2022 which triggered an open offer to buy a further 26 per cent of the media company.ET in May this year reported that NDTV was planning to launch nine news channels in different Indian languages, its first major expansion after being acquired by Gautam Adani’s business conglomerate.After taking control of NDTV, Adani Group-owned AMG Media Networks’ CEO Sanjay Pugalia stated that the company would strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform.
All the 10 listed companies of the Adani Group traded with sharp gains during the morning trade on Tuesday. Stock prices of Adani group companies soared on Friday also as the Supreme Court heard and reserved its verdict on a batch of petitions seeking examination of allegations of fraud against the conglomerate.
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