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TV Today shares soar 20% on Birla buy

Shares of TV Today Network skyrocketed 20 per cent to hit its upper-circuit.

Written by Agencies | Mumbai | Published: May 21, 2012 9:23:23 pm

Shares of TV Today Network today skyrocketed 20 per cent to hit its upper-circuit after Aditya Birla Group said it will buy 27.5 per cent stake in the holding firm of the India Today Group,Living Media India.

Making a robust start in the opening trade,shares of TV Today surged 20 per cent to touch upper circuit limit of Rs 64.80 on the BSE.

Similarly at the NSE,the stock zoomed up by 19.93 per cent to Rs 65.

“TV Today Network surged 20 per cent on back of fund infusion news by Aditya Birla Group,” said Sharmila Joshi,Head Equity,Fairwealth Securities.

On the volume front,5.87 lakh shares of the company were traded on the BSE,while over 18 lakh shares changed hands on the NSE.

The investment in Living Media India will be made by Aditya Birla Group’s private investment company,Aditya Birla Group had said. The transaction is subject to the customary approvals.

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