ITV

Tag: BSE

  • Cinemax sets IPO price band at Rs 135-155

    Cinemax sets IPO price band at Rs 135-155

    MUMBAI: Cinemax India Ltd, which runs a chain of exhibition theatres, has set a price band of Rs 135 to Rs 155 for its forthcoming 8.9 million-share initial public offer (IPO).

    The issue, which constitutes 31.86 per cent of the fully diluted share capital of the company, will enable Cinemax to raise Rs 1.38 billion at the top end of its price band.
    “We will be using the IPO proceeds to widen our presence from 33 screens in 10 properties to 141 screens at 42 locations by FY09. We will have a pan India presence, though our focus will be in strengthening our position in the northern and western regions of the country. We currently have a presence in Maharashtra,” Cinemax chairman Rasesh Kanakia said at a press conference.

    The company owns 8 of its properties while two are leased. “This is a major differentiator from the other theatre operators. But moving forward we would look at the rental model to ramp up the numbers. Our locations are at high catchment areas in affluent and middle class neighbourhoods,” he said. Inox is the other theatre exhibitor which has a predominantly ownership model.

    Cinemax plans to set up a eight-screen multiplex in Chandigarh and have seven gaming zones at its new locations. The company earns 76 per cent of its revenues from ticket sales and five per cent from advertisements, Kanakia said, adding that the company enjoyed leadership position in Mumbai with a 33 per cent market share.

    For the first half of the current fiscal, Cinemax posted a revenue of Rs 347.32 million and a net profit of Rs 21.39 million. In the previous year, it reported a turnover of Rs 438.6 million while its net profit stood at Rs 75.05 million. The company had 2.73 million patrons in the first half of this fiscal as against 3.67 million in FY06.

    Pyramid Saimira Theatre Ltd, which is also into the cinema exhibition business, recently raised Rs 844.4 million through an IPO and ended trading at the BSE on Wednesday at Rs 189.95.

  • BSE, NDTV in joint initiative for live ticker, video screen

    BSE, NDTV in joint initiative for live ticker, video screen

    MUMBAI: Prannoy Roy’s NDTV has pulled off a market positioning coup with the unveiling this morning of BSE Broadcast, a joint initiative between the news media major and the Bombay Stock Exchange.

    The front facade of the BSE building in south Mumbai’s Fort area will now show a stock ticker that will display all the indices at the BSE as well as individual stock information till 8 pm daily. Additionally, a large videoscreen put up below BSE’s live ticker will continuously beam business channel NDTV Profit.

    The ten-year deal involves NDTV Media providing the technology for the Indian version of New York’s Times Square.

    While lauding the effort as “an overdue initiative to enable the man in the street to read the writing on the wall”, Securities Exchange Board of India (Sebi) chairman M Damodaran used the occasion to send across a tough message to sections of the electronic and print media against what he termed as “agenda driven attempts being passed off as information to the unsuspecting”.

    “If you look at what is coming out in the media, it is personal involvement masquerading as informed advice. We will find a way to deal with that in the interest of the average investor,” Damodaran said.

    Roy said: “All stock markets must have transparency, credibility and provide information as widely as possible.

    “We are very, very proud at NDTV Profit to be associated with this exercise.”

    BSE managing director and CEO Rajnikant Patel said the initiative was symbolic of a greater transformation going on in India’s capital markets, which were moving towards stronger systems and more transparency and credibility.

  • Info Edge debuts with 62% premium on BSE

    Info Edge debuts with 62% premium on BSE

    MUMBAI: DotCom days are here again. Info Edge (India), a provider of online recruitment, matrimonial classifieds and related services in India (through its Websites naukri.com, jeevansathi.com etc) made a very impressive debut with a 62.5 per cent premium at Rs 520 on BSE today against the offer price of Rs 320 per share of Rs 10 each.

    The price shot up to Rs 623.80 intraday before closing for the day at Rs 593.20, a hefty premium of 85 per cent with a volume of 7.8 million equity shares on BSE.

    The volume on NSE was higher at 11.6 million equity shares, taking the total volume on both the exchanges to 19.4 million equity shares on the very first day.

    The company would use issue proceeds to purchase or lease real estate for their office, to acquire companies and use alternative delivery models such as messages through mobiles, etc. ICICI Securities and Citigroup Global Markets India were the book running lead managers to the issue.

    The company entered the capital market on 30 October with an IPO of 5.32 million equity shares in the price band of Rs 290 to Rs 320 per equity share. The issue closed on 2 November. The issue constitutes 19.5 per cent of the fully diluted post issue paid-up equity capital of the company.

    Info Edge wants to maintain its position as the leading provider of online recruitment solutions in India and further enhance its position as one of the leading providers of internet based matrimonial services. In addition, it seeks to diversify into and establish a position of leadership in the diverse spectrum of the online classified market and also to create such markets in those segments, which are currently catered to by the print media only.

    In order to achieve these objectives, it will continue emphasis on innovation and customization of its products and services, enhance and diversify its advertising revenue streams, leverage offline relationships and diversify into providing online classified services in new market segments.

    Presently its business activities are limited to primarily providing information exchange services in the recruitment, matrimonial and real estate markets; and the activities are concentrated in India.

    Now the Company proposes to diversify into other segments of the online classifieds market such as automobile products, educational products and industrial products and expand its present business to the countries in the Middle East and in South Asia. It also intends to start several initiatives to enhance the features and qualities of its currently existing products and services.

  • Gemini, Udaya to be merged into Sun?

    Gemini, Udaya to be merged into Sun?

    MUMBAI : The market is expecting founder-promoter Kalanithi Maran to merge the affiliate companies, Udaya TV Pvt Ltd and Gemini TV Pvt Ltd, where he has significant equity interests, with Sun TV Ltd.

    Maran had early this year raised Rs 6.03 billion through a public float of Sun TV which included the Tamil and Malayalam channels. But he kept his popular channels in Telugu and Kannada outside the ambit of the initial public offering (IPO) as they were under separate entities and had other minority stakeholders.
    The speculation in stock trading circles is that the decision would soon be taken to merge the two profit-making companies with Sun TV, offering investors a width of strong channels across the four southern states of Tamil Nadu, Andhra Pradesh, Karnataka and Kerala.

    The rumour comes at a time when Sun TV has made an announcement in the BSE that its board would be meeting on 27 November to “consider the proposed merger of satellite television broadcasting companies.”

    The stock would see a sigificant boost if “these rumours” turn out to be true. “The valuation of the company will shoot up if Gemini and Udaya are merged with Sun. It is not only the topline which will inflate but the bottomline will also continue to be strong,” stock market analysts say.

    Indiantelevision.com’s attempt to reach senior executives in Sun TV to get an official confirmation proved futile. Maran was also not available for comment.

    The equity shares of Udaya TV, as of 7 March 2006, are held by Maran (66.67), S. Selvam (16.67 per cent) and S Selvi (16.66 per cent). In Gemini, Maran has 26.5 per cent, Kal Communication (a promoter Group company), 23.5 per cent, K Bharathi 30 per cent, Indira Anand 16 per cent and A Sai Siva Jyoti 4 per cent.

    Before going for an IPO, Maran consolidated his ownership position by buying out entire stakes of Sharad Kumar and Dayalu Ammal (wife of DMK president M Karunanidhi). Analysts say he will try to do the same thing by buying out the minor partners in Gemini and Udaya before he decides to merge these two companies with Sun TV.

    “We don’t know if he also already bought out the stakes. If he has, the path is clear for him to go ahead with the merger,” an analyst in a brokering firm says.

    What is further fuelling the speculation is that Maran has recently consolidated the Telugu and Kannada channels under the Gemini and Udaya brands respectively. Teja News has been renamed Gemini News and Aditya TV as Gemini Music. Ushe TV, similarly, is now called Udaya Movies.

    Gemini and Udaya already share a business relationship with Sun TV Ltd. For instance, the approvals for uplinking Udaya News, Ushe TV, Aditya TV and Teja News have been granted in the name of Sun TV Ltd.

    Maran also has the option of consolidating Gemini and Udaya’s financials and taking them for an IPO. “This, however, is not what the market is expecting. We believe these two companies will merge with Sun TV to create a media behemoth,” analysts say.

    The Sun TV scrip opened the trading day at Rs 1361.55, reached a high of Rs 1389 and closed at Rs 1363.85.

  • TV18’s Sanjay Chaudhuri sells 100,000 shares to Bahl

    TV18’s Sanjay Chaudhuri sells 100,000 shares to Bahl

    MUMBAI: The Raghav Bhal promoted Television Eighteen Ltd has transferred 175,000 shares as a block deal to Network18 Fincap Pvt Ltd (previously known as SGA Finance and Management Services Private Limited) for Rs 120 million.

    This brings to 2,243,225 the total number of shares transferred to Network18 Fincap from Bahl’s personal holding. Recently, Network 18 Fincap had acquired 200,000 equity shares from Bahl for Rs 12.84 million.

    “Pursuant to the sanction to the scheme of arrangement by the Hon’ble High Court of Judicature at Delhi, Network 18 Fincap Pvt Ltd has acquired 175,000 shares from Bahl,” a statement TV18 posted on the BSE declared.

    Further, the company has informed the Bombay Stock Exchange that TV18 co-promoter Sanjay Ray Chaudhuri had sold 100,000 shares to Bahl in a block deal on 21 October.

    Assuming the transaction was done at the price the scrip was trading at on 21 October — Rs 685 — Chaudhuri would have received about Rs 61 million in the share sale.

    The TV18 scrip opened at Rs 700 and touched an intra-day high of Rs 793 before closing at Rs 776.

  • Bahl sells 2,00,000 TV18 shares to Network 18 Fincap

    Bahl sells 2,00,000 TV18 shares to Network 18 Fincap

    rivate Limited) has acquired 2,00,000 equity shares from the promoter Television Eighteen India Ltd (TV18), Raghav Bahl for Rs 12.84 million.

    This brings the total number of 20,68,225 shares transferred to Network18 Fincap Pvt Ltd from Bahl.

    The transaction was executed by way of block deal on the stock exchange, TV18 said. “Pursuant to the sanction to the scheme of arrangement by the Hon’ble High Court of Judicature at Delhi, Network 18 Fincap Pvt Ltd has acquired 2,00,000 shares from Bahl,” a statement TV18 posted on the BSE declared.

  • Bahl sells 275,000 TV18 shares to Network 18 Fincap

    Bahl sells 275,000 TV18 shares to Network 18 Fincap

    MUMBAI: Network 18 Fincap Pvt Ltd (previously known as SGA Finance and Management Services Private Limited) has acquired 275,000 equity shares from the promoter Television Eighteen India Ltd (TV18), Raghav Bahl for Rs 183.1 million.

    So far, Bhal has transferred 1,275,000 shares to Network 18 Fincap for an approximate amount of Rs 800 million in less than a months’ time.

    For the record, he sold 200,000 shares at Rs 609 on 18 August, followed by 300,000 equity shares at Rs 601 on 14 August, 300,000 shares at Rs 640 on 4 August and 200,000 at Rs 650.25 on 3 August to Network 18 Fincap.

    The transaction was executed by way of block deal on the stock exchange, TV18 said. “Pursuant to the sanction to the scheme of arrangement by the Hon’ble High Court of Judicature at Delhi, Network 18 Fincap Pvt Ltd has acquired 2,75,000 shares from Bahl,” a statement TV18 posted on the BSE declared.

  • Sun TV Q1 net profit up 52% to Rs 422.3 million

    Sun TV Q1 net profit up 52% to Rs 422.3 million

    MUMBAI: Sun TV has posted a net profit of Rs 422.30 million for the quarter ended 30 June, 2006 as compared to Rs 277.90 million for the corresponding period last year.

    Meanwhile, the company’s the total income for the period has recorded an increase of 32.5 per cent.

    As per a statement issued by the company, the total income has increased from Rs 746.80 million for the quarter ended 30 June, 2005 to Rs 990.40 million for the quarter ended 30 June, 2006.

    Inspired by the impressive results, the Sun TV scrip recorded a jump of Rs 53.65 (4.85 per cent) at the BSE to close at Rs 1159.70. At the National Stock Exchange (NSE), the scrip gained Rs 50.80 to close at 1,158.75.

  • UTV Q1 revenue up 7% at Rs 523 million

    UTV Q1 revenue up 7% at Rs 523 million

    MUMBAI: UTV Software Communications Ltd. has posted a consolidated net profit of Rs 34 million for the quarter ended 30 June 2006, same as in the year-ago period.

    While revenue rose seven per cent to stand at Rs 523 million, operating profit was at Rs 46 million. The company has consolidated the financials of post production outfit United Entertainment Solutions Ltd (UESL), UTV-US, UTV-UK and UTV-Mauritius. The board of directors, in its meeting held today, have taken on record the un-audited consolidated financial results of the company and its subsidiaries.

    Commenting on the quarterly results, UTV CEO Ronnie Screwvala said, “The first quarter of the current fiscal has witnessed a marginal growth in revenues over the same quarter last year. This growth is largely driven by the new shows in the television and A&S segments and film revenues have largely remained flat as most of our releases for this fiscal are during the third and the fourth quarter. The margins of the company haven’t shown a corresponding increase mainly because the new shows introduced would take some time to mature in TV and airtime sales business. In our animation business, during past few quarters we have focused on overall scale by strengthening order book, moving up the value chain by entering into production of DVD and theatrical movies and expansion of facilities. These investments are expected to translate into higher revenues and margins going forward.”

    The UTV scrip shed 4.01 per cent to close today at Rs 167.35 in the BSE. Even in the NSE, it lost 4.23 per cent to end at Rs 167.60.

  • Sun TV has big bang debut on BSE; closes 68% higher at Rs 1466.05

    Sun TV has big bang debut on BSE; closes 68% higher at Rs 1466.05

    MUMBAI: The Kalanidhi Maran promoted and Chennai-headquartered broadcaster Sun Television Limited got listed on the bourses on Monday with a huge bang. The scrip has been greeted with a lot of excitement and closed the day’s trading 67.55 per cent higher at Rs 1466.05 on the Bombay Stock Exchange (BSE).

    A total of 5,298,695 shares were traded on the opening day.

    At the National Stock Exchange (NSE), the scrip had an overall gain of 67.39 per cent and closed the day at Rs 1464.65. A volume of 11,585,515 shares have been traded on day one.

    Just how bullish the bourses are is about the scrip can be garnered from comments made by market analyst Rajesh Jain of Pranav Securities to CNBC TV18, where he said Sun TV should be part of every investor’s portfolio.

    Said Jain, “I would ride this Sun TV story. I might add on declines, if the strip does give that opportunity. Sun TV is a super pedigree media stock. It has been the leader in the south for almost a decade.

    “I think it would even rate better than some of the older plays available in the media space.”

    The scrip, which was offered through initial public offer (IPO) early this month at a tag price of Rs 875 per share, listed at Rs 1,111 on the BSE and Rs 1,000 on the NSE. Its BSE ID is 532733 and its NSE ID is SUNTV.

    In its IPO, Sun had come out with a fresh equity issue of 68,89,000 equity shares of Rs 10 each for cash, made entirely through the book building route.

    The issue constituted 10 per cent of the fully diluted post issue paid-up capital of the company. Following the issue, the shareholding of Sun TV Ltd principal promoter Kalanithi Maran has reduced to 89.99 per cent from 99.99 per cent (61,999,969 shares).