NDTV stock falls 4% after LTS fund sells shares

The shares of NDTV fell by nearly 4% in early trade after the LTS Investment Fund sold 5,46, 379 shares of the media company at Rs 358.53 apiece on Wednesday. NDTV stock fell 3.63% to 344.40 in early trade against the previous close of 357.40 on the BSE. The stock was 3.18% lower at Rs 346.05 today. The market cap of the media company fell to Rs 2,236. 51 crore were on the BSE. The stock of NDTV has fallen 22.48% in the last six days.

The share increased by 305.63 per cent and 200.22 per cent since the beginning of the year. The turnover of Rs 90.79 crore was made by total of 0.26 lakh shares.

The stock was trading at a 52 week high of Rs 567.85 on September 6, 2022 and fell to a 52 week low of Rs 85 on December 8, 2021.

The company was in news recently after AMG Media Networks, Vishvapradhan Commercial Private, and Adani Enterprises Limited made an open offer to the existing shareholders for an additional 26 per cent stake in the media firm.

Sebi gave its final comments on the proposed Rs 492.81 crore-open offer on November 7. AMG Media Networks, a wholly owned subsidiary of the Adani Group, acquired a 100 per cent stake in Vishvapradhan Commercial Private VCPL VCPL warrants of RRPR Holding Private Limited RRPR, a promoter company with 29.18 per cent stake in NDTV in the last quarter.

AMG Media Networks and Adani Enterprises launched an open offer to acquire the additional stake in the media firm, along with Vishvapradhan Commercial. The LTS Investment Fund is one of the biggest public shareholders of NDTV and owns a 9.75 per cent stake in the company.

Sensex rose 202 points or 0.32 per cent to close at 62,613 and Nifty gained 62 points or 0.33 per cent to 18,622 in early trade. Eicher Motors, Axis Bank, IndusInd Bank, M&M, andICICI Bank were among the top gainers.