Adani buyout buzz: NDTV shares hit upper circuit

September 20, 2021 20:58

Shares of NDTV on Monday jumped 10 per cent to their highest trading permissible limit for the day amid rumours about a possible buyout of the company even as it denied any such discussions.

The stock zoomed 9.94 per cent to close at its upper circuit of Rs 79.65 on the BSE. On the NSE, it jumped 9.99 per cent to Rs 79.85.

Earlier in the day, the BSE had sought clarification from New Delhi Television Ltd with reference to news reports on buyout by Adani Group.

In a clarification, the company said, "In this regard, we wish to inform you that the founder-promoters of the New Delhi Television Limited (NDTV/the Company), Radhika and Prannoy Roy, who are both journalists, are not in discussions now, nor have been, with any entity for a change in ownership or divestment of their stake in NDTV."

They individually and through their company, RRPR Holding Private Limited, continue to hold 61.45 per cent of the total paid-up share capital of NDTV, it added.

The filing further said that NDTV has no information on why there is a sudden surge in the stock price.

"NDTV cannot control unsubstantiated rumours, nor does it participate in baseless speculation," it added.

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