Moreover, Rekha Rakesh Jhunjhunwala, Reliance Capital Ltd and Government Pension Fund Global are holding 2.32%, 1.21% and 2.67% of the shares of the company, respectively. Also, do you know where, Pension Funds generally put their money (invest)? Please search Internet to get the answer.....
It is to be remembered that on 29 May last year, in the biggest ever deal in India's media sector, Reliance Industries acquired control in Network18 Media & Investments Ltd, including its subsidiary TV18 Broadcast Ltd, for Rs.4,000 crore. Subsequently, the company made open offers to acquire a controlling stake in media group Network18 and its subsidiaries.
In January 2012, Network18 Group and Reliance Industries had joined hands for a multi-layered deal, under which the Mukesh Ambani-led corporate giant sold part of its interest in ETV channels and got access to content and distribution assets of the electronic media group.
The share of TV18 Broadcast Ltd (Rs.32.70) is moving up with good volume today. The total volume of the shares traded in the NSE has already crossed 1.5 million and is nearing 2 million (Current Volume: 1,807,011).
It is to be noted that Eenadu Television sold its non-Telugu businesses to the TV18 group, now controlled by Reliance Industries Ltd’s Mukesh Ambani.
In a significant development, Petrochemical major Reliance Industries Ltd, the parent company of TV18 Broadcast Ltd, had earlier beat street expectations with its September, 2015 quarter standalone net profit rising 3.8% sequentially to Rs.6,561 crore, driven by strong operational performance in refining business.
Meanwhile, a buy call was given to the Paid Group members, on Infinite Computer Solutions Ltd on Sunday, August 30, 2015 at Rs.168.70, for a short term target of Rs.200; the scrip touched Rs.196, intra-day.
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