Shares of Reliance Group corporations — Network18 Media & Investments, and TV18 Broadcast — slipped as much as 19 per cent on the BSE in Thursday’s intra-day commerce amid heavy volumes. Traders booked revenue within the shares of the 2 corporations after Reliance and Viacom18 introduced partnership with Bodhi Tree Techniques.
Network18 Media tanked 19 per cent to Rs 92.40 amid 2.5 occasions leap in buying and selling volumes. A mixed round 25 million fairness shares had modified fingers on the NSE and BSE until the time of writing of this report. TV18 Broadcast, in the meantime, slipped 17 per cent to Rs 62 on the BSE within the intra-day commerce. Buying and selling volumes jumped over four-fold with a mixed 148 million fairness shares altering fingers on the NSE and BSE.
At 01:54 PM, these shares are down by 15 per cent and 13 per cent, respectively. Compared, the S&P BSE Sensex was up 1.4 per cent at 57,007 degree.
That stated, regardless of at this time’s sharp decline, TV18 Broadcast (up 58 per cent) and Network18 Media (up 26 per cent) have outperformed the Sensex prior to now six months, which slipped 4 per cent throughout the identical interval.
In the meantime, the inventory of Reliance Industries hit a brand new excessive of Rs 2,839.65, up 2.2 per cent on the BSE. Prior to now three months, it has rallied 22 per cent as in opposition to 0.73 per cent acquire within the benchmark index.
Reliance and Viacom18 on Wednesday introduced a strategic partnership with Bodhi Tree Techniques, which is a platform of James Murdoch’s Lupa Techniques and Uday Shankar, to type one of many largest TV and digital streaming corporations in India.
Bodhi Tree Techniques is main a fund elevate with a consortium of traders to take a position Rs 13,500 crore in Viacom18, to collectively construct India’s main leisure platform and pioneer the Indian media panorama’s transformation to a “streaming-first” method. Viacom18 owns and operates the suite of Colours TV channels and OTT platform, VOOT. CLICK HERE FOR FULL RELEASE
Viacom18 Media Pvt. Ltd. is one in all India’s quickest rising leisure networks and a home of iconic manufacturers that provides multi-platform, multi-generational and multicultural model experiences.
Network18’s listed subsidiary TV18 owns and operates the broadest community of 57 channels in India, spanning information and leisure genres.
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