Stake sale report fires-up NDTV stock

Shares of NDTV ended the day marginally higher even though they surged in the morning.

Shares of media house NDTV ended the day marginally higher by 0.53 per cent at Rs 75.40 on the Bombay Stock Exchange. In intra-day trade,the scrip jumped by 6 per cent to a month’s high of Rs 79.50.

On the National Stock Exchange,the company settled the trade at Rs 76,up 1.54 per cent from the previous close.

In terms of volume,over 13 lakh shares of the company changed hands on the bourses during the day.

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Meanwhile,the BSE benchmark index Sensex finished the day at 19,451.45,down by 139.73 points.

NDTV stock surges by 6 pc on BSE

Shares of NDTV rose by 6 per cent in morning trade on the BSE amid media reports that private equity firm DE Shaw is close to acquiring a 14.2 per cent stake in the company for Rs 70 crore.

Shares of the media firm jumped by 6 per cent to touch an early high of Rs 79.50 on the Bombay Stock Exchange.

Buying lifted the shares of the company on the National Stock Exchange as well,where it climbed by 6.14 per cent to a high of Rs 79.45.

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On the volume front,over 9 lakh shares of the company changed hands on the bourses within the first two hours of trade.

According to the report,DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings.

DE Shaw may increase its stake in NDTV further,the report added.

Goldman Sachs Investments Mauritius and GS Mace Holdings yesterday sold their entire stake in the media house for Rs 70 crore.

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In separate deals,Goldman Sachs Investments Mauritius has sold its entire 51.06 lakh shares of the media firm at Rs 76.55 apiece for about Rs 39.09 crore in an open market transaction,while GS Mace Holdings has sold 40.30 lakh equity in NDTV at Rs 76.55 a piece taking the total to Rs 30.85 crore.

According to data on the BSE,Goldman Sachs Investments Mauritius and GS Mace Holdings held 7.92 per cent and 6.25 per cent,respectively,in NDTV at the end of the December quarter.

Meanwhile,the BSE 30-share key index Sensex was trading at 19,537.62,down by 53.56 points,at 1128 hours.