Home / Financial News / TV Today Network, NDTV rally up to 20% on heavy volumes

TV Today Network, NDTV rally up to 20% on heavy volumes

Shares in the companies engaged in broadcasting and cable TV business like TV Today Network and New Delhi Television (NDTV) have rallied up to 20% on back of heavy volumes on the bourses.

TV Today Network has surged 20% to Rs 203, also its 52-week high on BSE, on back of five-fold jump in trading volumes. At 1305 hours, a combined 4.26 million shares representing 7.2% of total equity of the company changed hands on BSE and NSE.

So far in August, the stock zoomed 48% from Rs 137 after reported an over two-fold increase in standalone net profit at Rs 32.79 crore for the first quarter ended June 30, 2014, on back of strong operational performance.

NDTV too rallied 13% to Rs 93.95, on back of an over seven-fold surge in trading volumes. The stock opened at Rs 83.35 and touched high of Rs 94.80 on BSE.

A combined 2.4 million shares already changed hands on the counter against an average sub 300,000 shares that were traded daily in past two weeks on BSE and NSE.

Delhi-based news broadcaster NDTV posted a net loss of Rs 1 crore for the first quarter ended June 30 compared with a net loss of Rs 24 crore incurred during the corresponding period of last fiscal.

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