Adani plans of acquiring NDTV while the stocks take a jump

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New Delhi: Media company NDTVs shares are flying on the bourses amid speculation that the entity may be the target of Adani Group that is looking to enter the media business through acquisition.

The company shares on BSE flew in the morning hours of trade to hit the 10 percent circuit levels. On BSE the stock traded at Rs 79.65, up 9.94 percent.

Reports have suggested that Adani Group is looking at Delhi-based media companies for its foray and NDTV may be a potential candidate.

On its part, Adani Group is already progressing on its media interests with the appointment of veteran journalist Sanjay Pugalia as the CEO and editor-in-chief.

Though NDTV’s financials had been moving up and down, its stock has performed exceedingly well rising well over 100 percent in the last year. The company has also been subjected to tax investigations.

Source: IANS