Get the latest news from Nation Next in your inbox.
NDTV, which is India’s one of the leading media channels, saw a rise of 10% in its shares after rumours of Adani Group buying it spread in the stock market.
Reports suggested that Adani Group, led by businessman Gautam Adani would buy NTDV very soon as it was looking to get hold of a Delhi-based media company. However, NTDV had denied any such news.
Reportedly, the financial condition of NTDV was not so good. But however, the company managed to stay afloat. Reports also suggested that the stock prices of NDTV had risen 130% since the last year.
NDTV’s shares on BSE flew in the morning hours of trade to hit the 10% circuit levels. On BSE the stick traded ₹79.65, up 9.94 per cent as of 1:07 pm on Monday, 20th September.
Adani Group a few days ago, had appointed senior journalist Sanjay Puglia as its CEO and Editor-in-Chief to lead the group’s media initiatives.
As per the latest updates, talks are underway to discuss whether or not to buy NDTV, said reports.
Experts believed that Adani Group naming Puglia as their new head of media initiatives signalled that the group wanted to acquire a well-established media house based in Delhi.
This is a developing story. More updates to follow.