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Tag: BSE

  • DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    DoT takes on record spectrum sharing pact between RCom and RTL IN 800 MHz

    NEW DELHI: The Department of Telecommunications has taken on record 800 Mhz Spectrum Sharing in seven circles of Reliance Communications Ltd (RCom) and two circles of Reliance Telecom Limited (RTL), wholly owned subsidiary with Reliance Jio Infocomm Limited (RJIL).

    Giving this information to Bombay Stock Exchange, Reliance Communications Ltd said this was with effect from 21 April 2016.

    The development was with reference to the earlier letter dated 18 January 2016 informing sharing of spectrum in 800 MHz with RJIL.

    The Company and RTL are now able to share spectrum with RJIL in nine circles:  Mumbai, Uttar Pradesh (East), Madhya Pradesh, Bihar, Orrisa, Haryana, Himachal Pradesh, Assam and the North East.

    The DoT had in February approved sharing of active infrastructure like antenna used for transmitting mobile signals.

    It is learnt that RCom has already paid Rs 5,383.84 crores to liberalise its spectrum in 16 circles which include Delhi, Mumbai, Punjab, Himachal Pradesh, UP East and West, Gujarat, Madhya Pradesh, Kolkata and Bihar.

    A liberalised spectrum allows telecom operators to use any technology to deliver mobile service like 3G and 4G. Besides, it allows introduction of new technologies and sharing and trading spectrum with other operators for its efficient use.

    The Cabinet has earlier cleared liberalisation of spectrum allocated without auction to telecom companies – at prices recommended by the Telecom Regulatory Authority of India with the balance being collected after deriving market rate through bidding

  • Den to sell entire stake in Star Den JV to Star

    Den to sell entire stake in Star Den JV to Star

    BENGALURU: Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

    At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.

  • Den to sell entire stake in Star Den JV to Star

    Den to sell entire stake in Star Den JV to Star

    BENGALURU: Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

    At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.

  • TV Today Network appoints Rajeev Gupta as an independent director

    TV Today Network appoints Rajeev Gupta as an independent director

    MUMBAI: TV Today Network announced Rajeev Gupta as an independent director on the board of the company with effect from 5 March 2016 for a period of 5 years subject to shareholder approval.  

    With an experience of 33 years in manufacturing, investment banking and private equity, Gupta has worked as CEO for a scale challenged Indian magnetic components manufacture Cosmo Ferrites Limited for 5 years and he has worked as a product manager for a line of industrial abrasives in Grindwell Norton for 2 years 

    Gupta was also worked as M&A Head and Board member of DSP Merrill Lynch Ltd and set up his own M&A investment banking  Firm Arpwood Capital Ltd in 2012. He was a global partner of the Carlyle group and India Head of Asia Buyout Fund.

    The company informed the stock exchanges that the Gupta does not have any relationship with other  directors  of the Board of the Company. 

  • TV Today Network appoints Rajeev Gupta as an independent director

    TV Today Network appoints Rajeev Gupta as an independent director

    MUMBAI: TV Today Network announced Rajeev Gupta as an independent director on the board of the company with effect from 5 March 2016 for a period of 5 years subject to shareholder approval.  

    With an experience of 33 years in manufacturing, investment banking and private equity, Gupta has worked as CEO for a scale challenged Indian magnetic components manufacture Cosmo Ferrites Limited for 5 years and he has worked as a product manager for a line of industrial abrasives in Grindwell Norton for 2 years 

    Gupta was also worked as M&A Head and Board member of DSP Merrill Lynch Ltd and set up his own M&A investment banking  Firm Arpwood Capital Ltd in 2012. He was a global partner of the Carlyle group and India Head of Asia Buyout Fund.

    The company informed the stock exchanges that the Gupta does not have any relationship with other  directors  of the Board of the Company. 

  • Bloodbath on Dalal Street; media & entertainment see red with Balaji leading fall

    Bloodbath on Dalal Street; media & entertainment see red with Balaji leading fall

    MUMBAI: There was bloodbath on the bourses as the benchmark Bombay Stock Exchange (BSE) Sensex crashed below the 23,000-level to close at 22,951.83, down 807.07 points (3.45 per cent) on Thursday, 11 February, 2016.

    The Nifty also crashed 232.30 points or 3.21 per cent to close the day at 6,983.40.

    Amongst other sectors that bore the brunt of this melt down, was also the media and entertainment sector, which saw red. Bucking the trend was Videocon Industries, which closed the day up 0.05 per cent at Rs 107.90 as compared to its previous day close of Rs 107.85.

    Balaji Telefilms was amongst one of the biggest losers with the stock slumping 14.57 per cent to close the day at Rs 89.70 as compared to its previous day close of Rs 105.

    Eros International Media slumped 12.40 per cent to Rs 156.85, down Rs 22.20 from its previous close of Rs 179.05.

    DQ Entertainment (International) was down 10 per cent to close the day at Rs 23.85 as compared to its previous day’s close of Rs 26.50.

    B.A.G Films & Media was down 9.87 per cent at Rs 3.47. Also affected was the direct to home (DTH) company Dish TV India, which closed the day at Rs 72.45, down 8.75 per cent.

    TV Today Network was down 7.16 per cent to close the day at Rs 280.60 and touched an intra day low of Rs 277.10.

    Network18 Media & Investments as well as Shemaroo Entertainment were down 6.32 per cent. While Shemaroo closed the day at Rs 249.10, Network18’s stock price stood at Rs 41.50 at the end of day’s trade.

    With a drop of 6.16 per cent, Saregama India closed the day at Rs 251.20, whereas multi system operator (MSO) Hathway Cable & Datacom lost 5.39 per cent to close the day at Rs 35.10.

    Den Networks dipped 5.22 per cent to close at Rs 66.30 after touching an intra-day high of Rs 71. Meanwhile Zee Learn was down 5.08 per cent to close at Rs 32.70.

    The Maran-owned Sun TV Network was down 4.48 per cent with the stock closing at Rs 326.40.

    MSO Siti Cable Network at Rs 33.10 was down 4.20 per cent as compared to its previous close of Rs 34.55.

    After opening at Rs 195.80 and touching an intra-day high of Rs 196, the Orissa based MSO Ortel Communications was also in the red, down 2.76 per cent to close the day at Rs 180 as compared to its previous day close of Rs 185.10.

    PVR’s stock was down 2.68 per cent to close the day at Rs 709.75. The company’s shares touched an intra-day high of Rs 735.80 and an intra-day low of Rs 695.

    Zee Entertainment Enterprises Limited (ZEEL) was down 2.64 per cent. The stock closed at Rs 369.40 from its previous close of Rs 379.40.
    Jagran Prakashan was down 2.31 per cent to close at Rs 156.30, whereas Zee Media Corporation closed at Rs 17.75 and was down 2.20 per cent.

    Entertainment India Ltd (ENIL) was down 1.64 per cent to close at Rs 673.30, while HT Media’s shares were down 0.46 per cent to close at Rs 75.65. Tips Industries’ stock closed at Rs 61.95, down 0.24 per cent.
    NDTV India remained at its previous day’s close of Rs 102.20 witnessing no change. The stock, however, touched an intra-day low of Rs 99.10.
    Share prices of all the companies in the 15 stock Nifty Media Index fell today. The Index was down 3.75 per cent, a fall that was more than the 3.32 per cent drop by the NSE Nifty 50.

    The Nifty Media Index opened at the start of the trading day at 2261.35 points, which was the high for the day. The Media Index witnessed a low of 2161.50, with the last traded price of 2177.45. The volume traded today was 127.36 lakhs (12.74 million) with a traded value of Rs 185.48 crore

    Although more shares of TV18 Broadcast changed hands (69.02 lakh, traded value Rs 26.12 crore), Zee Entertainment (Zeel) saw a traded value of Rs 93.22 crore (a little more than 50 per cent of the Media Index traded value for the day) on a volume of 25.04 lakh. Sun TV was another actively traded stock that saw volumes of 8.81 lakh on a traded value of Rs 29.42 crore.

  • Bloodbath on Dalal Street; media & entertainment see red with Balaji leading fall

    Bloodbath on Dalal Street; media & entertainment see red with Balaji leading fall

    MUMBAI: There was bloodbath on the bourses as the benchmark Bombay Stock Exchange (BSE) Sensex crashed below the 23,000-level to close at 22,951.83, down 807.07 points (3.45 per cent) on Thursday, 11 February, 2016.

    The Nifty also crashed 232.30 points or 3.21 per cent to close the day at 6,983.40.

    Amongst other sectors that bore the brunt of this melt down, was also the media and entertainment sector, which saw red. Bucking the trend was Videocon Industries, which closed the day up 0.05 per cent at Rs 107.90 as compared to its previous day close of Rs 107.85.

    Balaji Telefilms was amongst one of the biggest losers with the stock slumping 14.57 per cent to close the day at Rs 89.70 as compared to its previous day close of Rs 105.

    Eros International Media slumped 12.40 per cent to Rs 156.85, down Rs 22.20 from its previous close of Rs 179.05.

    DQ Entertainment (International) was down 10 per cent to close the day at Rs 23.85 as compared to its previous day’s close of Rs 26.50.

    B.A.G Films & Media was down 9.87 per cent at Rs 3.47. Also affected was the direct to home (DTH) company Dish TV India, which closed the day at Rs 72.45, down 8.75 per cent.

    TV Today Network was down 7.16 per cent to close the day at Rs 280.60 and touched an intra day low of Rs 277.10.

    Network18 Media & Investments as well as Shemaroo Entertainment were down 6.32 per cent. While Shemaroo closed the day at Rs 249.10, Network18’s stock price stood at Rs 41.50 at the end of day’s trade.

    With a drop of 6.16 per cent, Saregama India closed the day at Rs 251.20, whereas multi system operator (MSO) Hathway Cable & Datacom lost 5.39 per cent to close the day at Rs 35.10.

    Den Networks dipped 5.22 per cent to close at Rs 66.30 after touching an intra-day high of Rs 71. Meanwhile Zee Learn was down 5.08 per cent to close at Rs 32.70.

    The Maran-owned Sun TV Network was down 4.48 per cent with the stock closing at Rs 326.40.

    MSO Siti Cable Network at Rs 33.10 was down 4.20 per cent as compared to its previous close of Rs 34.55.

    After opening at Rs 195.80 and touching an intra-day high of Rs 196, the Orissa based MSO Ortel Communications was also in the red, down 2.76 per cent to close the day at Rs 180 as compared to its previous day close of Rs 185.10.

    PVR’s stock was down 2.68 per cent to close the day at Rs 709.75. The company’s shares touched an intra-day high of Rs 735.80 and an intra-day low of Rs 695.

    Zee Entertainment Enterprises Limited (ZEEL) was down 2.64 per cent. The stock closed at Rs 369.40 from its previous close of Rs 379.40.
    Jagran Prakashan was down 2.31 per cent to close at Rs 156.30, whereas Zee Media Corporation closed at Rs 17.75 and was down 2.20 per cent.

    Entertainment India Ltd (ENIL) was down 1.64 per cent to close at Rs 673.30, while HT Media’s shares were down 0.46 per cent to close at Rs 75.65. Tips Industries’ stock closed at Rs 61.95, down 0.24 per cent.
    NDTV India remained at its previous day’s close of Rs 102.20 witnessing no change. The stock, however, touched an intra-day low of Rs 99.10.
    Share prices of all the companies in the 15 stock Nifty Media Index fell today. The Index was down 3.75 per cent, a fall that was more than the 3.32 per cent drop by the NSE Nifty 50.

    The Nifty Media Index opened at the start of the trading day at 2261.35 points, which was the high for the day. The Media Index witnessed a low of 2161.50, with the last traded price of 2177.45. The volume traded today was 127.36 lakhs (12.74 million) with a traded value of Rs 185.48 crore

    Although more shares of TV18 Broadcast changed hands (69.02 lakh, traded value Rs 26.12 crore), Zee Entertainment (Zeel) saw a traded value of Rs 93.22 crore (a little more than 50 per cent of the Media Index traded value for the day) on a volume of 25.04 lakh. Sun TV was another actively traded stock that saw volumes of 8.81 lakh on a traded value of Rs 29.42 crore.

  • Sun TV forms committee to evaluate share buyback

    Sun TV forms committee to evaluate share buyback

    MUMBAI: The South Indian television major Sun TV Network is examining a buyback of its equity shares and has formed a committee to examine the proposal.

     

    In a BSE filing, Sun TV Network said that its Board of Directors met on 5 November, 2015 to evaluate the proposal for buyback of equity shares of the company.

     

    “After detailed deliberations, the Board has constituted a committee to examine the buyback proposal as well as other options and recommend suitably,” the company further added.

     

    Sun TV promoters hold 75 per cent stake in the company, while the rest 25 per cent is with the public as of the quarter ended 30 September, 2015. Of the shares held by the public, Foreign Institutional Investors (FIIs) hold 16.61 per cent, whereas domestic financial institutions hold 2.64 per cent.

     

    The company had, in an earlier notice informed the bourses, that the board would meet on 5 November to consider if it thought fit to approve a proposal to buy-back the fully paid-up equity shares of the company.

  • Speculative media reports caused Wells Fargo downgrade: Eros

    Speculative media reports caused Wells Fargo downgrade: Eros

    BENGALURU: The Bombay Stock Exchange (BSE) listed Eros International Media lost nearly 20 per cent of its market value on Monday on the back of American multinational banking and financial services holding company Wells Fargo downgrading its parent company Eros International Plc, which is listed on the New York Stock Exchange (NYSE).

     

    Reacting to a notice from the bourses about the downgrade by Wells Fargo, Eros International Media (Eros) held speculative media reports responsible.

     

    Eros said that analysts downgrade or upgrade stocks regularly and ‘as such that is not a cause for much concern’. Also, the company has responded by pointing out in its reply that Wells Fargo did not revise their own earnings estimate for the quarter or the year end and their price target is $22, well above the price the stock was trading the date it was published. Eros claims in its response that another analyst from Macquire-Tim Nollen, published a very positive report and maintained outperform rating with a $25 target, on the same day as the Wells Fargo report that was published on 23 October, 2015.

     

    Eros’ response to the bourses goes onto assure its shareholders that the company’s fundamentals are strong and there have been no material changes in the previous announced fundamentals. “We continue to be market leaders in the Indian film industry with a dominant share in the global Indian box office. Our library of over 2000 films continues to be of a unique competitive advantage, which we monetise in conjunction with our new release slate of 65-70 films comprising Hindi and regional languages each year, across theatrical, television and digital and ancillary distribution platforms which constitute our diversified revenue streams,” the company said.

     

    The company added that its Q1 results have been strong and nothing materially has changed since then, in fact a further string of hits by the company such as Bajrangi Bhaijaan in Q2. Eros’ Q2 results, which are to be announced towards mid-November, will be strong and will be another opportunity for the company to answer further questions regarding all aspects of its operations and finances during that earnings call.

     

    The response to the BSE and the National Stock Exchange (NSE) has been signed by Eros company secretary and compliance officer Dimple Mehta.

     

    At the end of the day’s trade on the BSE, Eros International Media’s stock was down 19.11 per cent to close at Rs 354.40 as compared its Friday close of Rs 438.10. On Monday, the stock opened at Rs 418.80 but saw a drop as word of the Wells Fargo downgrade spread. The stock reached an intra-day low of Rs 351.

     

    On NYSE, shares of the parent company Eros International Plc, which has a market cap of $842.9 million, too have been losing ground over the last one week. As of 23 October, the company’s shares were down 45 per cent to $14.65 in one week on NYSE.

  • Hinduja Global Solution signs golfer Anirban Lahiri as its brand ambassador

    Hinduja Global Solution signs golfer Anirban Lahiri as its brand ambassador

    MUMBAI: Hinduja Global Solutions Limited (HGS) (Listed on NSE & BSE, India), has signed Asia’s No. 2 and India’s No.1Golfer, Anirban Lahiri as its brand ambassador. He was the Runners Up at the Venetian Macau Open, 2015 held this month.

     

    Known in today’s world golfing circuit as the ‘new face of Indian golf ’, Anirban has in the last few years shot up the world rankings to secure a place for himself amongst the Top 50 golfers in the world. A feat that has been achieved by only one other Indian before him – Jeev Milkha Singh.

     

    “Our company’s core values mirror the key values inherent to the game of golf, and Anirban represents our ethos.” says HGS global CEO Partha DeSarkar. “Pursuit of excellence and passion to win are traits that HGS and Anirban share in common. Golf promotes a strong honor system backed by mutual respect and this is precisely how we do business with our customers. Anirban showcases dependability and cutting-edge execution characteristics that HGS is well known for.”

     

    Anirban is expected to play a significant role in developing Brand HGS around the world. The sport of golf appeals to a large section of people associated with business, who are either avid players or followers. This association with India’s best golfer will further build the HGS brand, facilitate business growth and increase brand recall with potential and existing customers.

     

    Anirban Lahiri, HGS’ first-ever brand ambassador, said, “I believe that the key factors for consistent success on the golf course are adaptability, innovation and execution. It is therefore an honor to represent HGS, which has exemplified these traits in the BPM industry through the years. As I continue to grow in my career, I look forward to partnering with HGS in its journey to achieve the next level of aggressive growth globally.”

     

    DeSarkar said, “HGS has been involved in worldwide golfing events and it was a logical step to sign up an upcoming Indian sportsman to promote the brand. Anirban Lahiri as our brand ambassador will further the HGS brand and support HGS’ promotional plans.”