NDTV share price jumps 3% after Adani acquires 29% stake

The company operates three national news channels – NDTV 24x7, NDTV India and NDTV Profit. With over 35 million followers, NDTV has a strong online presence and is one of the most followed news handles on social media .

NDTV share price jumped more than 3% today to Rs 380 apiece on BSE, after Gautam Adani-led Adani group made a move to acquire a controlling stake in the television news network on Tuesday.

NDTV stock has risen 42.17% in the last one month, while it has skyrocketed 186.49 per cent in the last six months.

On a year-to-date (YTD) basis, NDTV share price has soared 237.71%. NDTV stock hit a new 52-week high for the second consecutive day on Wednesday

Adani’s media unit AMG Media Networks Ltd has exercised the rights to convert the outstanding loan to NDTV’s holding company, resulting in acquisition of a 29.18% stake in NDTV.

Adani unit will launch an open offer as required by capital markets regulator SEBI (Securities and Exchange Board of India) to buy another 26 per cent in the company from shareholders at Rs 294 per share