ITV

Tag: Bombay Stock Exchange

  • Ashish Sehgal quits Zee, replaced by old hand Laxmi Shetty

    Ashish Sehgal quits Zee, replaced by old hand Laxmi Shetty

    MUMBAI: Old Zee timer Ashish Sehgal is moving on. Sehgal who was with the Zee group for nearly 20 years was designated as the chief growth officer, advertisement revenue and was known to be very close to promoter Subhash Chandra.

    It was just last month that he had been inducted into the Indian Telly Awards hall of fame for his contribution to the entertainment behemoth. He was also on the board of directors of The Indian Broadcasting & Digital Foundation.

    The company made the announcement through a regulatory filing with the Bombay stock exchange. It said that Sehgal was moving out for personal reasons and the parting was mutual.

    In his resignation note Ashish Sehgal said: “After much reflection, I have decided to step down from my role at Zee Entertainment Enterprise Ltd, marking the end of a truly enriching chapter in my professional journey. It has been an incredible experience spanning almost 20 years, during which I’ve had the privilege to learn every nuance of the trade, grow through challenges, and contribute meaningfully to our shared goals.”

    “Working under your leadership and alongside such talented colleagues has been both an honour and a learning experience. The culture of excellence, collaboration, and innovation here has shaped me in ways I will always carry forward. As I move on to explore new horizons, I do so with immense respect and appreciation for everything this organisation has given me.” 

    The company also announced the elevation of Laxmi Shetty as the head of advertisement revenue, broadcast & digital. Shetty has been part of the leadership team for 20 years, the company said.

    In a press note, Zee highlighted that Laxmi will lead the company’s efforts to enhance monetisation across the linear and digital businesses, further strengthening its financial foundation by maximising revenue generation. In this role, Laxmi will report directly to the CEO, Punit Goenka.

    “Laxmi has been an integral part of the leadership team and a strong pillar of the revenue vertical for over 20 years and has rich experience in the overall advertising landscape. She has been recognized for successfully implementing sustainable creative solutions, enhancing revenue generation opportunities. Her expertise lies in driving strategic excellence across the sales ecosystem through innovative cross-platform solutions, capitalising on newer opportunities, leading to enhanced value delivery to advertisers. In this new role, Laxmi would be responsible for driving a holistic monetization strategy across the business by tapping into newer revenue streams and enhancing the advertiser base by delivering unique solutions at the intersection of content and technology.”

  • Media stocks hold the mic as markets crash in Trump tariff meltdown

    Media stocks hold the mic as markets crash in Trump tariff meltdown

    MUMBAI: Even as the Bombay stock exchange tanked five plus per cent  in the morning on Trump tariff meltdown Monday, Indian media and entertainment stocks shed just one to three per cent of their values at the time of trading at 3:30 pm. Sun TV was trading at Rs 638  a gain 0.83 per cent over  its previous weekend closing of Rs 632.75. TV Today network was up 1.65 per cent toto trade at Rs 160.40. On the flip side, a few media players were caught in the downward spiral. Entertainment Network India – the operator of Radio Mirchi – cut 2.06 per cent to stand at Rs 132.80. GTPL Hathway declined 3.69 per cent to Rs 105.75 even as Hathway dropped 3.16 per cent to Rs 12.58. Dish TV fell by 2.61 per cent to Rs 5.60.

    The advertising sector, however, bore the brunt of the market tremors. Advertising agency RK Swamy lopped off 10 per cent to trade at Rs 199.15 from its previous days closing of 223.50. Bright Outdoor clipped 4.36 per cent at Rs 449.50 as against Signpost which went negative to the tune of 7.36 per cent to trade at Rs 235.40. Innokaiz India dropped to Rs 13.56 with a 4.98 per cent fall. Maxposure saw a 5.76 per cent decline settling at Rs 57.30. Meanwhile, DAPS Advertising India saw a dip of 2.86 per cent to Rs 17.00. (At around 4 pm, may vary according to the market)

    Despite the broader bloodbath on Dalal Street, the relatively cushioned fall of media and entertainment stocks could indicate investor confidence in the sector’s long-term fundamentals, or perhaps just temporary insulation from global trade frictions. Either way, for now, the M&E sector is holding its script, even as the markets slip into drama mode.  

  • Rakesh Rajput bids adieu to Havells after 21 years

    Rakesh Rajput bids adieu to Havells after 21 years

    MUMBAI: Havells India Ltd has announced the resignation of Rakesh Rajput as executive vice president for sales & marketing of the cable division effective 11 March 2025. Rajput, who has been a key pillar of the organisation for over two decades, is stepping down for personal reasons, bringing an emotional close to his illustrious 21-year tenure.

    In his resignation letter, Rajput expressed gratitude to Anil Rai Gupta, chairman & MD of Havells, and the late Qimat Rai Gupta, acknowledging their trust and support in shaping his career. “This was a difficult decision, but the memories and experiences I have gathered at Havells will always stay with me,” he wrote, reflecting on his journey with the company.

    Havells, one of India’s top electrical goods companies, has yet to announce a successor for the EVP role. The company’s leadership transition comes at a time when it continues to expand its market presence in the consumer and industrial segments.

    Rajput’s departure marks a significant shift in Havells’ senior management, as the company navigates a dynamic business landscape. Industry insiders anticipate an announcement regarding the next phase of leadership soon. This resignation was formally communicated to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in compliance with SEBI’s listing obligations.

  • Swiggy’s landmark IPO wins equity issue of the year at IFR Asia Awards 2024

    Swiggy’s landmark IPO wins equity issue of the year at IFR Asia Awards 2024

    MUMBAI : Swiggy has made headlines by clinching the Equity Issue of the Year 2024 award at the IFR Asia Awards, recognising its record-breaking IPO that raised Rs 11,327.43 crore. As India’s top on-demand convenience platform, Swiggy’s public debut wasn’t just a financial milestone but a statement of its growing influence in the consumer-tech space.

    Swiggy’s shares debuted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 13 November 2024, receiving a strong market response.

    Swiggy CFO Rahul Bothra said , “Receiving the ‘Equity Issue of the Year’ award from IFR Asia is a significant honour. This recognition reflects our strong business fundamentals, operational excellence, and the confidence of both Indian and global investors. The overwhelming response to our IPO underscores our vision to redefine convenience while fostering a sustainable, technology-driven ecosystem. We remain committed to delivering long-term value to all stakeholders.”

    Presented by the International Finance Review (IFR), the IFR Asia Awards are among the most prestigious honours in the financial industry, celebrating excellence in capital markets across the Asia-Pacific region. Swiggy’s IPO has set a new benchmark in the consumer technology sector, highlighting its scale, resilience, and promising growth trajectory.

  • Piyush Gupta resigns as group CTO of TV Today network

    Piyush Gupta resigns as group CTO of TV Today network

    MUMBAI:  TV Today network has announced the resignation of Piyush Gupta from his position as group chief technology officer. Gupta submitted his resignation via letter, indicating his intent to pursue new opportunities elsewhere. The company has accepted his resignation, and he will officially relinquish his duties at the close of business on 15 April 2025. TV Today informed the Bombay stock exchange about his resignation through a regulatory filing.

    Piyush Gupta has had a distinguished career in the broadcasting industry, having served as Group CTO at TV Today since January 2015. Prior to that, he spent 15 years at Network18 Media & Investments Limited, where he played a pivotal role in launching several prominent channels, including CNBC TV18, CNN IBN, and others. His extensive experience includes overseeing technology and operational processes that significantly contributed to the growth of the network.

    Gupta began his career at Television18  India and also served as a senior engineer at NDTV, bringing a wealth of technical knowledge and leadership experience to his roles. He holds a bachelor’s degree in electronics engineering from Delhi University.

    As TV Today Network prepares for this transition, Gupta’s contributions to the organization and the broadcasting sector will certainly be remembered. For further information, please contact TV Today Network’s corporate communications team.
     

  • Zee Media hires Aditya Tandon as chief brand officer

    Zee Media hires Aditya Tandon as chief brand officer

    MUMBAI: Zee Media has picked Aditya Tandon as its new chief brand officer for campaigns & intellectual properties, effective 15 January  2025. The decision follows a recommendation from the company’s nomination and remuneration committee. Zee Media informed the Bombay stock exchange about his hiring as he is classified amongst the senior management  personnel in the company.

    Aditya brings over 25 years of extensive experience in marketing and brand management across multiple regions, including India, Nepal, Mauritius, and Canada. His career spans various industries, including media, telecom, and web services. He is recognised for his proficiency in brand building and has effectively executed numerous launch and re-launch initiatives. His innovative strategies often include technological and digital interventions, contributing to impactful marketing campaigns.

    Throughout his career, Aditya has received over 100 awards at prestigious forums like the Asian Television Awards and Promax for his communication and promotional efforts. He has also served as a speaker at various industry platforms, sharing his insights on brand strategy and marketing trends.

    Aditya  holds a bachelor of arts (Hons) from Delhi University, a postgraduate diploma in international marketing from the Delhi School of Economics, and a master’s degree in management studies from Carleton University, Canada.

    Prior to this role, he served as vice-president of brand marketing at Network18 Media & Investments, where he was responsible for marketing the company’s Hindi news cluster, significantly boosting brand performance post re-launches. His notable contributions include the rebranding of CNN-News18 and several award-winning campaigns that have established him as a leading figure in the marketing domain.

  • Prime Focus spawns another offshoot DNEG Creative

    Prime Focus spawns another offshoot DNEG Creative

    MUMBAI: The Prime Focus Ltd (PFL)  empire is expanding. The company informed the Bombay stock exchange on 8 January that its subsidiary  Prime Focus Motion Pictures Ltd (PF Motion) has incorporated a new wholly owned subsidiary under itself on 7 January bearing the name DNEG Creative Private Ltd (DNEG).

    It  further stated that DNEG Creative will be  a subsidiary company under PFL  but an indirect one.

    It has a share capital of Rs 100,000 and its main areas of business will be post-production activities of video production and of motion pictures.
     

  • Reliance Industries: a subsidiary change

    Reliance Industries: a subsidiary change

    MUMBAI: Network18 Media & Investments informed the Bombay stock exchange on the evening of 31 December that Viacom18 India had ceased to be its subsidiary on 30 December and become a direct offshoot of Reliance Industries Ltd (RIL).

    This, it said,  happened when RIL converted 24,61,33,682 compulsorily convertible preference shares (CCPS) held by it in Viacom18 into 24,61,33,682 equity shares. Post this conversion, RIL’s equity holding in Viacom18 went up to 83.88 per cent and 70.49 per cent on a fully diluted basis. Network18 ended up with 16.12 per cent of Viacom18’s  total equity share capital and 13.54 per cent on a fully diluted basis. On 14 November, RIL had informed  the exchange that its stake in Viacom18 was at 70.49 pr cent on a fully diluted basis following its acquisition of Paramount’s 13.01 per cent stake (on a fully diluted basis) in it for Rs 4,286 crore. 

    AS per the BSE regulatory filing, Viacom18 was a material subsidiary of Network18 with nil turnover and a net worth of Rs 26,928.17 crore (representing 90.39 per cent, of the annual consolidated net worth of  Network18) for the financial year 2023-24.

    Network18    received     intimation     from     Viacom18     on 30 December at 7:46 p.m. regarding the allotment of equity shares to RIL pursuant to conversion of CCPS.

    The shareholders of Network18 had earlier approved this change of ownership.

    With this transition, Viacom18 will now operate under RIL control.

  • Zee-Sony merger gets nod from stock exchanges

    Zee-Sony merger gets nod from stock exchanges

    Mumbai: Zee Entertainment Enterprises (Zeel) on Friday received approval from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for its proposed merger with Culver Max Entertainment (formerly Sony Pictures Networks India).

    “The approval from the stock exchanges marks a firm and positive step in the overall merger approval process,” said the company statement. The approvals permit the Zee to proceed with the next steps in the overall merger process.

    The composite scheme of arrangement remains subject to applicable regulatory and other approvals.

    The Zee-Sony merged entity will be one of the largest media and entertainment players in India with close to $2 billion in revenue. Zeel MD and CEO Punit Goenka will serve as the managing director and chief executive officer of the merged entity over the next five years.

    After the closing, Sony Pictures Entertainment, which owns Culver Max Entertainment, will indirectly hold a majority of 50.86 per cent of the combined company, the promoters of Zeel will hold 3.99 per cent, and the remaining Zeel shareholders will hold a 45.15 per cent stake.

    It has been seven months since the two companies announced their intention to merge by signing definitive agreements.

  • PVR-Inox merger gets approval from BSE & NSE; it will reshape multiplex business

    PVR-Inox merger gets approval from BSE & NSE; it will reshape multiplex business

    Mumbai: PVR and Inox Leisure on Tuesday disclosed that the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have given their clearance with regards to the scheme of amalgamation or merger deal between the two companies.

    The decision to merge was first proposed on 27 March before the board of directors of the two companies. The combined entity called PVR-Inox would become the largest film exhibition company in India operating 1546+ screens.

    Post the merger, the promoters of Inox will become the co-promoters in the merged entity along with existing promoters of PVR. The board of directors of the merged company will be reconstituted with a total board strength of 10 members & both the promoter families having equal representation on the board with two seats each. PVR promoters will have 10.62 percent stake while Inox promoters will have 16.66 percent stake in the combined entity

    PVR chairman Ajay Bijli will lead the combined entity as managing director. Sanjeev Kumar will be appointed as the executive director. Pavan Kumar Jain will be appointed as the non-executive chairman of the board. Siddharth Jain will be appointed as non-executive non-independent director in the combined entity.

    When the merger becomes effective, shareholders of Inox will receive shares of PVR in exchange for shares in Inox at the approved share swap ratio. Inox shareholders will receive three shares in PVR for 10 shares of INOX.

    The merger will be an all-stock amalgamation subject to approval of the shareholders of PVR and Inox respectively, stock exchanges, SEBI and such other regulatory approvals as may be required.