After the announcement of Adani Group’s decision to buy a 29.18 per cent stake in NDTV, the stock of NDTV registered a sharp jump and seemed to be upper circuit every day. However, after the 9th day on Tuesday, September 6, its shares have fallen and the company’s stock has a lower circuit.
Adani Group’s media company had announced to buy a 29.18 per cent stake in NDTV as well as buy a 26 per cent stake through an open offer. This deal is being discussed for the last year, due to which the shares of NDTV are showing a jump. On NSE, this stock has given a return of 593.65 per cent to the investors during one year. This stock has risen from Rs 74.75 level to Rs 573 level during one year.
Why is NDTV share price falling?
The stock of NDTV has given a return of 351.07 per cent during the YTD, while it has given a return of 226 per cent in the last six months and 77.66 per cent in one month. Its 52-week high rate is Rs 573 per share, while the 52-week low price is Rs 71.70 per share. Experts believe that the jump in its shares is not sustainable.
Significantly, Pranav Roy and Radhika Roy hold a 32.26 per cent stake in NDTV. The Adani Group has indirectly acquired a 29.18 per cent stake in RRPR, another company that has a stake in NDTV. Apart from this, other big investors of NDTV are LTS Investment Fund Limited, which holds 9.75 per cent and Vikasa India EIF I Fund holds 4.42 per cent.
Let us tell you that amidst the deal of Adani Group’s media company NDTV, the matter is stuck regarding the purchase of the company. In such a situation, if the open offer of the media company of the Adani Group is accepted, then Adani will have more than half the stake in New Delhi Television Limited.
