ITV

Tag: BSE

  • TV Today’s Oye FM up for sale amidst disappointing revenues

    TV Today’s Oye FM up for sale amidst disappointing revenues

    BENGALURU/MUMBAI: Entities in the radio business have started to play their cards for survival in the industry. The first one to make the move was Radio City when it entered in an acquisition agreement with Jagran Prakashan. Now, TV Today’s Oye FM is in spotlight.

     

    According to an announcement on the BSE, the Board has approved the sale of the radio FM business, which has seven radio stations operating in Delhi, Mumbai, Kolkata, Jodhpur, Amritsar, Patiala and Shimla.

     

    The corporate announcement stated, “TV Today Network Ltd has informed BSE that the board of directors of the company at its meeting held on 6 February 2015, inter alia, had allotted ESOP as per TVTN Employee stock option plan 2006: Satyaky Chowdhury – 10,500; and Shams Tahir Khan – 7,500.”

     

    It further said, “The Board has approved the sale of Radio FM Business (Seven Radio Stations) and has further authorised a Committee of Directors / senior officials to negotiate the terms and conditions with potential buyers and to execute the sale, subject to requisite Statutory and Regulatory approvals.”

     

    No official information has been circulated amongst Oye FM employees giving details of such a sale. But one of the sources said that Oye FM was pretty much evaluating its position in Phase III auctions along with Oye FM’s migration plans. But with the new announcement there is no clarity as to where they stand for Phase III auctions. Currently, the Information and Broadcasting Ministry is working on making the partial auctions happen as smoothly as possible. The first partial auction of FM radio phase III is for 69 existing cities for 135 channels.

     

    This sale will not be the first for TV Today Network Limited (TVTN). In 2006, TVTN promoter, Living Media, sold the FM radio business under the brand Red FM to a consortium of investors, and later Kalanithi Maran’s Sun Network bought a stake in the company.

     

    Click here to read the full story

  • Eveready profit up three-fold to Rs 15.3 crore in Q3

    Eveready profit up three-fold to Rs 15.3 crore in Q3

    KOLKATA: Buoyed by strong operational performance, battery major Eveready Industries India has reported a 238 per cent year-on-year jump in its net profit for the third quarter this fiscal to Rs 15.33 crore from Rs 4.53 crore for the same period last fiscal.

     

    The Kolkata-based company’s net sales during the period under review grew nearly 10 per cent y-o-y at Rs 325.22 crore on the back of value growth in batteries and a 22 per cent growth in the new category of lighting products.

     

    Total sales increased by 9.7 per cent y-o-y at Rs 325.42 crore as against Rs 296.59 crore in the year-ago period, Eveready said in a BSE filing.

     

    Overall expenses of the company stood at Rs 298.39 crore as against Rs 282.02 crore in the corresponding period last year.

     

    During the December quarter, the company’s operating EBITDA soared 36.7 per cent y-o-y to Rs 34.18 crore from Rs 25 crore for the corresponding period a year ago, particularly due to progressive price increases being taken in batteries.

     

    Going forward, the company said the outlook looks stable.

     

    The company has an extensive distribution of more than 3,000 distributors reaching more than 5,000 population towns. The company is basing its growth on the new products-especially the lighting products and devices.

     

    Shares of Eveready Industries India closed at Rs 214.20 apiece on the NSE.

     

  • TV18 Q3-2015 consolidated operating results improve 40 per cent

    TV18 Q3-2015 consolidated operating results improve 40 per cent

    BENGALURU: TV18 Broadcast Limited’s (TV18) Board of Directors has approved the appointment of Rohit Bansal as an additional non-executive director on the board of the company. This was decided at the meeting held on 14 January 2015.

     

    Declaring the financial results, the company reported a 40 per cent improvement in operating profit (PBDIT – Profit before depreciation, interest and tax) in Q3-2015 at Rs 79.4 crore versus the Rs 56.7 crore in the immediate trailing quarter and 2.5 per cent more than the Rs 77.4 crore in the corresponding year ago quarter.

     

    The company reported a healthy 9.7 per cent and 15.6 percent growth in Income from Operations in Q3-2015 at Rs 607.2 crore as compared to the Rs 553.7 crore and the Rs 525.5 crore in Q2-2015 and Q3-2014 respectively.

     

    Year to date (9M-2015), the company’s Income from operations went up 20.2 per cent to Rs 1688.6 crore from Rs 1404.8 crore during 9M-2014. Operating PBDIT in 9M-2015 at Rs 183.8 crore was 30.8 per cent more than the Rs 140.6 crore in 9M-2014.

     

    Let us look at the other figures reported by TV18:

     

    Total Expense (TE) in Q3-2015 at Rs 542.3 crore was 6.8 per cent more than the Rs 508 crore in Q2-2015 and 17.9 per cent more than the Rs 460.1 crore in Q3-2014. TE in 9M-2015 at Rs 1559.8 crore was 20 per cent more than the Rs 1299.4 crore in 9M-2014.

     

    Programming cost was up 19.3 per cent in Q3-2015 at Rs 203.8 crore from Rs 170.9 crore in Q2-2015 and 42.9 per cent more than the Rs 142.6 crore in Q3-2014. Programming cost for 9M-2015 jumped 53 per cent to Rs 540.4 crore from Rs 353.3 crore in 9M-2014.

     

    TV18’s depreciation and amortisation (depreciation) at Rs 14.4 crore in Q3-2014 was 30.9 per cent more than the Rs 11.0 crore in Q2-2015 and was 19 per cent more than the Rs 12.1 crore in Q3-2014. The company’s depreciation expense in 9M-2015 at Rs 55 crore was 56.25 per cent more than the Rs 35.2 crore in 9M-2014.

     

    According to the company, CNBC-TV18 maintained its leadership as the No.1 channel in its genre with a market share of 55 per cent in Q3-2015. CNBC Awaaz also maintained its position as the No.1 channel in the Hindi business news genre with a market share of 61 per cent in the quarter and CNBC Bajar showed consistent and accelerated growth in viewership with a 182 percent increase in Q3-2015 over Q2-2015. CNN-IBN stood at No.2 position in the English General News category in Q3-2015 with a market share of 25 percent. Its Hindi GEC Colors was number two with a market share of 19 percent in this quarter. The company added that its regional news and entertainment group of channels under the ETV umbrella also performed well.
     

    Click here to read the review report

     

  • Hathway Cable gets board nod to hike FII limit to 74 per cent

    Hathway Cable gets board nod to hike FII limit to 74 per cent

    MUMBAI: It was in 2012, when the government had relaxed foreign direct investment (FDI) limit in direct to home (DTH), cable TV industry and teleports from 49 per cent to 74 per cent. In keeping with this, Hathway Cable & Datacom which early this week became the first multi system operator (MSO) to have crossed the $1 billion mark in terms of enterprise valuation, is now probably looking at attracting overseas capital into the company.

    The MSO has in an announcement to the BSE informed that its Board of Directors have approved and passed the resolution to increase the foreign investment limit from the current 49 per cent to 74 per cent, this subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India.

    “Subject to receipt of approval of the Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and / or the Reserve Bank of India (RBI) and all other applicable authorities, increasing the foreign investment limit only by Foreign Institutional Investors, Foreign Portfolio Investors, etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the Foreign Exchange Management Act (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the Company from 49 per cent to 74 per cent of the issued arid fully paid-up share capital of the Company,” reads the announcement.

    The Hathway Board has also passed the resolution of a postal ballot notice along with the explanatory statement and calendar of events for seeking approval of the shareholders of the Company by postal ballot for its foreign investment proposal.

    According to Hathway Cable & Datacom CEO and MD Jagdish Kumar Pillai, the cable TV sector is becoming lucrative for foreign investors. Pillai had earlier told Indiantelevision.com, “With broadband and cable TV getting more transparent, the market is viewing this as a great industry to invest in the next five years, and that’s reflected in the balance sheet. It is a promise of a good potential.”

    With the industry getting more organised courtesy its digitsation drive, Pillai expects more foreign investors to pump in funds into the cable TV sector.

     

  • BSE seeks clarification from Sun TV

    BSE seeks clarification from Sun TV

    MUMBAI: It was on 26 December when Sun Group COO C Praveen was arrested by the Chennai crime branch, after a former employee of the network filed a harassment complaint against him.

     

    Praveen has been booked under Tamil Nadu Prohibition of Sexual Harassment of Women Act, as he was, as per media reports, allegedly harassing the woman for the past two years.

     

    While several publications carried the news, the Bombay Stock Exchange (BSE) on 29 December issued a notice asking Sun Network to clarify the news item published in Business Standard.

     

    The notice reads: “The Exchange has sought clarification from Sun TV Network Ltd with respect to news article appearing in Business Standard on 27 December 2014 titled “Top official of Sun Network arrested.”

     

    The reply is awaited, the BSE notice further says.

     

    The complainant, who held a senior position in the programming section of Surya TV, a Malayalam channel from the Sun stable, as per reports, had quit her job five months ago.  

     

  • Hathway receives shareholders nod for equity share split

    Hathway receives shareholders nod for equity share split

    BENGALURU:  Shareholders of Hathway Cable and Datacom Limited (Hathway) have voted in favour of a share split of the company’s equity shares of face value (FV) of Rs 10 each. The company had proposed splitting each equity share of FV of Rs 10 to 5 equity shares of face value of Rs 2 each. The board of directors of the company had passed the resolution at its meeting held on 13 November 2014.

     

    Rathi and Associates, the scrutinizer of the ballot, in its report said that 101 postal ballot forms representing 1,103,011 equity shares and 69 e-voting confirmations representing 99,908,194 equity shares were received. Of these, 11 postal ballot/e-voting confirmations representing 2474 equity shares were invalid. Of the 159 net valid postal ballot forms/e-voting confirmations representing 101,008681 equity shares, 157 postal ballots/e-voting confirmations assented to the split, with 2 representing 50 shares dissenting.

     

    Hathway has an authorised equity share capital of Rs 199.80 crore. The existing issued, subscribed, paid up share capital of the company is Rs 166,09,89,000 shares divided into 16,60,98,900 equity shares of FV of Rs 10 each.

     

    The stock closed at Rs 333.35 per equity share of FV of Rs 10 at close of trading today (22 December 2014) in the BSE, up 3 per cent (Rs 9.70) from the previous close of Rs 323.65. The stock’s 52 week high was Rs 385.60 and 52 week low was Rs 221 on the BSE.

     

    On the NSE, the stock closed at Rs 333.25, up 2.37 per cent as compared to the previous close of Rs 325.55 on 19 December. Its 52 week on the NSE was Rs 382 on 4 December 2014 and the 52 week low was Rs 220 on 14 April 2014.

  • Reliance Media Works files revised dates draft letter for acquiring 26% of Prime Focus

    Reliance Media Works files revised dates draft letter for acquiring 26% of Prime Focus

     BENGALURU: Reliance Media Works Limited (RMW, acquirer) has filed a draft letter of offer (LOF) with revised dates on the bourses for acquisition of a 26 per cent voting stake in Prime Focus Limited (Prime Focus, target company). RMW is acting in concert with Reliance Land Private Limited, Namit Malhotra, Narseh Malhotra and Monsoon Studio Private Limited (Monsoon Studios).  

     

    RMW will make a cash offer at Rs 52 per Equity Share to acquire up to 7,77,08,534 Equity Shares of face value of Re 1 each representing 26 per cent of the emerging voting capital (EVC) of Prime Focus. The target company’s EVC  comprises the paid-up equity share capital of Rs 29,88,78,974 divided into 29,88,78,974 equity shares, being the paid-up equity share capital of the target company after the allotment of the preferential allotment – 11,34,61,538 Equity Shares to the acquirer and Monsoon Studios on a preferential allotment basis.

     

    The offer shall open on 19 December 2014 and will remain open until 2 January 2015. All owners (registered or unregistered) of Equity Shares, regardless of whether he/she/it held Equity Shares on the identified date 5 December 2014), are eligible to participate in the offer any time before the closure of the tendering period.

     

    Click here to read the offer letter

  • Maxis-Aircel deal plunges Sun TV 8.55 per cent

    Maxis-Aircel deal plunges Sun TV 8.55 per cent

     BENGALURU:  Reports that both the Maran brothers were questioned by the enforcement directorate (ED) under the provisions of the money laundering act early this week brought down the share price of Sun TV Network (Sun TV) on the bourses today. The ED questioned the Maran brothers – Dayanadhi and Kalanithi about the Aircel-Maxis deal, according to media reports.

     

    The script closed 8.55 per cent down (down by Rs 32.15) at Rs 343.75 per equity share having face value of Rs 5 on the BSE. There was a spurt in traded volumes by 1.46 times and the stock had breached the 338.35 circuit to reach a low of Rs 335.65 on the BSE. The stock on 12 December opened at Rs 376 after it had closed on 11 December at Rs 375.90. The intraday high for Sun TV was Rs 379.60. The Total Traded Quantity (TTQ) on the BSE was 2.59 lakh shares with a turnover of Rs 9 crore, against a 2 week TTQ average of 1.49 lakh shares per day. The S&P BSE Sensex fell 0.91 per cent (down 251.33 points) to Rs 27350.68 today.

     

     Note: 100,00,000 = 100 lakh = 10 million = 1 crore.

     

     On the NSE, the stock fell 7.88 per cent (down Rs 29.65) to Rs 346.70 from its previous close of Rs 376.35. It opened at Rs 379.35 on the NSE with a High/Low of Rs 379.35/Rs 320.55. The traded volume of Sun TV shares on the NSE was 21,50,608 at a traded value of Rs 7,485.19 lakh. The NSE CNX Nifty fell 0.8.3 per cent (68.8 points) to 8224.10 at close of trading day today.

     

  • Eros International appoints Dinesh Modi as India CFO

    Eros International appoints Dinesh Modi as India CFO

    MUMBAI: Eros International Media’s group chief financial officer (CFO) Kamal Kumar Jain has quit the company. An announcement to the Bombay Stock Exchange states that Dinesh Modi has been appointed as the new group CFO for India.

     

    Modi has had an experience of over 15 years in finance while Jain had been associated with Eros since 2010. “Kamal was a valuable member of our team and we wish him all the best for his future,” states the BSE statement adding that he will be moving on to pursue his other interests.

     

    Kamal has 17 years of experience and has worked with DNA, Percept Group and Ciba Specialty. Modi was senior VP- finance and operations at Prana Studios and has also worked with companies such as WNS, BearingPoint, MC Dean and Gujarat Guardian.

  • TV Today gains 4 per cent as RK Damani ups stake to 6.4 per cent

    TV Today gains 4 per cent as RK Damani ups stake to 6.4 per cent

    BENGALURU: He is a quiet and a patient ‘Man with the Midas touch,’ who is touted as Indian stock market whiz Rakesh Jhunjunwalla’s guru. Today, Radhakishan Damani, or RK Damani, increased his stake in TV Today Network Limited with an investment of Rs 25.48 crore for 13 lakh shares of face value of Rs 5 each,  to 6.4 per cent from 4.22 per cent. Damani’s average purchase price at that rate works out to Rs 196 per share.

     
    The company’s share closed 4.01 per cent higher at Rs 217.70 from an opening of Rs 210 today on the BSE. The High/Low values of the script for the day were Rs 220.45/208.30. The share had closed at Rs 209.30 yesterday.TV Today’s script saw a turnover of Rs 6.02 crore at a weighted average price of Rs 215.42 per share on the BSE. Its 52 week High/Low on the BSE was Rs259/Rs 96.05.

     
    On the NSE, at close today, the script had gained 3.64 per cent (Rs 7.65) on yesterday’s closing price of Rs 209.95 to close at Rs 217.60 per share. The script opened on the NSE at Rs 210, reached a high of Rs 220.40 and a low of Rs 208.05 during the course of the day. About 9.48 lakh shares valued at Rs 20.4718 crore were traided on the NSE today. The 52 week high of the share was Rs 259.35 on 7 November 2014 and the 52 week low was Rs 95.75 on 30 January 2014 on the NSE.

     
    Earlier, on 27 August 2014 Derive Investments, a fund run by RK Damani and Gopikishan Damani had bought 11.7 lakh shares representing 1.96 per cent stake in TV Today Network for Rs 21 crore. The price of TV Today then rose 6 per cent to Rs 217 on the NSE. Before that, since September 2013, RK Damani had held a 1.5 per cent stake in the TV broadcaster.

     

    TV Today reported a 58.1 per cent y-o-y increase in production costs coupled with a 40.4 per cent increment in employee benefit expense (EBE) and a 36.6 per cent rise in other expense numbers which pared its PAT to register a 2.9 per cent increment in Q2-2015. The company reported a y-o-y growth of 21.8 per cent in its Total Income from Operations (TIO) in Q2-2015 at Rs 111.69 crore versus the Rs 91.71 crore in Q2-2014, but TIO registered a 18.5 per cent decline when compared to the Rs 137.01 crore for Q1-2015. Higher TIO in Q1-2015 can be attributed to the national elections that saw revenues of most news channels rise during the first quarter of FY-2015.

     

    As mentioned above, the company’s PAT at Rs 13.21 crore (11.8 per cent of TIO) was 2.9 per cent more than the Rs 12.83 crore (25 per cent of TIO), but was almost a third (40.3 percent of) the Rs 32.79 (23.9 per cent of TIO) crore in Q1-2015.

     

    Click here to read the notification