Speculation about Adani takeover: NDTV stocks soar
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New Delhi: Amid rumours that the media entity NDTV is a target of Adani Group for a takeover, the media company shares are soaring on the bourses . There have been reports that the expanding Adani group is looking to enter the media business through acquisition, reported news agency IANS.
The company shares on BSE flew in the morning hours of trade to hit the 10 per cent circuit levels. On BSE the stick traded at Rs 79.65, up 9.94 per cent as of 1.07 p.m.
Reports have suggested that Adani Group is looking at Delhi based media companies for its entry into the the realm of media and NDTV is seen as a potential candidate. However, IANS has stated that it could not verify the move.
Apart from that on its part, Adani Group is already progressing on its media interests with the appointment of veteran journalist Sanjay Pugalia as the CEO and editor-in-chief.
Though NDTV's financials had been moving up and down, it's stock has performed exceedingly well rising well over 100 per cent in last one year. The company has also been subject of tax investigations widely believed as vindictive action by the government for its stances on several issues.