Ground Report | New Delhi: Adani Group buy NDTV; Following rumors of NDTV being acquired by the Adani Group on social media, Due to the rumors of Adani buying NDTV, there was an upper circuit of 10% in the shares of the company.
Adani Group buy NDTV
According to the news going on in ETMarkets, the report has claimed that Adani Group is about to acquire a media house based in Delhi.
There is a discussion among traders that it could be NDTV. Therefore, there was a strong buying in the shares of NDTV. However, ET said that we have not yet verified this news. The company is trading 9.94% higher at Rs 79.65 on BSE.
There is a lot of speculation about the entry of Adani Group into this media sector. Adani Enterprises recently appointed senior journalist Sanjay Puglia as CEO and editor-in-chief to lead the media initiatives of its group.
organization issued statement
The news organization now issued a statement clarifying that it is not in any discussion on the change in ownership. NDTV Ltd. is no longer in discussion with any entity for change of ownership or for any kind of disinvestment, nor is it in discussion with any entity, NDTV said in a statement. The founder-promoters, Radhika and Prannoy Roy, who are both journalists, Owns and controls 61.45 percent of the company.
Shares of NDTV crossed its 10 percent upper circuit limit after rumors of the company being acquired by the Adani Group. Senior journalist Sanjay Puglia was appointed as the CEO and editor-in-chief to lead the media initiatives of the Adani Group. It was speculated that Adani would acquire a media house based in Delhi, which would be estimated to be NDTV.
In its statement, NDTV said that “there is no information as to why there was a sudden jump in the stock price”. Regarding “news reports” on the same, it said: “NDTV cannot control baseless rumours, nor does it participate in baseless speculations.”
The statement concluded that the company is “known for exemplary corporate governance and continues to comply with all legal and regulatory requirements for disclosure”.