NDTV stock jumps 5% on takeover buzz - Hindustan Times
close_game
close_game

NDTV stock jumps 5% on takeover buzz

Press Trust of India, New Delhi | ByPress Trust of India
Sep 22, 2017 05:12 PM IST

Shares of NDTV jumped almost 5% on Friday amid reports that SpiceJet’s Ajay Singh is set to take control of the media firm even as the company denied any such move.

Shares of NDTV jumped almost 5% on Friday amid reports that SpiceJet’s Ajay Singh is set to take control of the media firm even as the company denied any such move.

It came in response to a clarification sought by BSE on reports suggesting stake purchase by Singh in the company.(Hindustan Times File Photo)
It came in response to a clarification sought by BSE on reports suggesting stake purchase by Singh in the company.(Hindustan Times File Photo)

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

Hindustan Times - your fastest source for breaking news! Read now.

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.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, March 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On