Shares of Balaji Telefilms are locked on the upper circuit filter. Know why
Advertisement
Advertisement
Advertisement
Shares of Star sold its entire 25.99 percent stake in Balaji for 63.60 rupees per share on the MCX Stock Exchange. The price of the deal was negotiated below the prevailing market price. Star TV had been keen to exit Balaji over the past several years. Balaji is a TV software production house promoted by film star Jitendra's family. It has produced several hit TV serials for general entertainment channels.
As a consequence, Balaji Telefilms rose 15.60 rupees, or 19.9 percent, to 95.30 rupees, a fresh high, on the National Stock Exchange. The company's market capitalisation stands at 560 crore rupees and a 26 percent stake sale would mean the deal is valued at 145 crore rupees.
Image credit: Indiatimes
Advertisement
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance