ITV

Tag: NSE

  • Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    MUMBAI: The new year has started on a good note for multi system operator (MSO) Hathway Cable and Datacom. Hathway, which became the first MSO to have crossed the $1 billion mark in terms of enterprise valuation, has now attracted Goldman Sachs, which picked up 4.8 per cent stake in the company.

     

    After investing Rs 600 crore in DEN Networks in 2013, this is Goldman Sachs second investment in Indian cable TV industry.

     

    The company bought 80,93,268 shares of Hathway at Rs 65, amounting to Rs 52.6 crore on the National Stock Exchange (NSE).

     

    The highest shareholder in the MSO is Macquarie Bank with 9.11 per cent stake. Other shareholders in the company include Reliance Capital (5.23 per cent), P6 Asia (Providence Equity Partners) (10.85 per cent) and CLSA Global (4.02 per cent) among others.

     

    The news comes at the back of the MSO seeking shareholder’s approval for increasing its total foreign investment by Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI) to 74 per cent from the current 49 per cent.

     

    While Hathway had on 8 January got Board approval for increasing the foreign investment limit, subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India, the MSO is now seeking the shareholders nod.

     

    The Hathway Board has appointed Rathi and Associates Himanshu S Kamdar as scrutiniser for conducting the voting process through postal ballot. The company has also offered e-voting facility as an alternative. The last date for the ballots to reach Kamdar is 5 pm on 13 February.

     

  • 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.

     

  • 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

  • Zee Entertainment Enterprises to be a Nifty 50 stock soon

    Zee Entertainment Enterprises to be a Nifty 50 stock soon

    MUMBAI: The Subhash Chandra-owned Zee Entertainment Enteprises Ltd (Zeel) is getting blue blooded once again. The Zeel stock is all set to get included in the 50-share CNX Nifty index, come 19 September 2014. It will be stepping into the spot left vacant by the eviction of the Diageo-controlled United Spirits Ltd (USL).  The latter enjoyed just a six month stay in the CNX Nifty 50 as it had been placed in it in April 2014.

     

    India Index Services & Products Ltd, a NSE-Crisil joint venture that maintains the Nifty index, on 20 August, after market hours released a statement stating the same.

     

    Zeel  jumped to a high of Rs 300 during the early trade on 21 August. It opened 1.7 per cent higher than the previous close of Rs 293, while the stock of USL  was trading under pressure, following news of its being dumped from the Nifty. The stock opened 3 per cent lower at Rs 2,390 and ended 2.1 per cent lower than the close on 20 August 2014.

     

    This is not Zeel’s debut on the CNX Nifty 50 Index. It had an earlier stint which ended in March 2009 when  Axis Bank replaced it.  Another notable point is that while USL  has fallen more than 20 per cent since its inclusion in the Nifty 50 in April 2014, Zeel has risen around 35 per cent in the past one year.

     

    NSE also announced other inclusions and exclusions in the index; Aurobindo Pharma and Motherson Sumi Systems will be included in CNX Nifty 100 replacing Mphasis and Zeel.

     

    There have been changes in the CNX Nifty 200 as well. Companies such as CARE, Castrol India, Muthoot Finance, Edelweiss Financial Services, Kaveri Seeds, Marico among others will replace the likes of Adani Power, CRISIL, Bhushan Steel and Vijaya Bank etc.

     

    A total of 15 companies in the CNX 500 index, two from the FMCG and LIX 15 indices and one each from the CNX Consumption and NI15 indices have been replaced. All the changes will be effective from 19 September 2014.

     

    The CNX Nifty 50 index is reviewed every six months and a six week notice is given to the market before any changes are made to the index set.  As per the guidelines, only 10 per cent of the Nifty stocks (five stocks) can be reshuffled in a calendar year. Two stocks (USL and Tech Mahindra) were already included in the Nifty 50 in April 2014.

     

    In 2010 and 2012, four stocks from the Nifty were replaced while in 2011, two stocks and 2013, three stocks were substituted.

     

    Zeel also has been included in the recently launched CNX Media Index on the NSE and carried the maximum weight of 45.45 per cent in the index that comprises 15 media and entertainment stocks. The methodology for selection of the stock was based on free float market capitalisation.

     

    Click here for details of NSE’s CNX Nifty Index methodology

    Click here for CNX Media Index details

  • NDTV Prime to fully operate on sponsored programmes

    NDTV Prime to fully operate on sponsored programmes

    MUMBAI: New Delhi Television (NDTV) is carrying forward its de-risking strategy of reducing dependence on advertising revenues. Higher revenues from programme sponsorship had helped the news broadcaster report a small net profit of Rs 2 crore in 2012-13 despite weak advertising revenues, after two years of losses.

    NDTV has now brought on board a channel sponsor and a channel partner for its split channels NDTV Profit and NDTV Prime. NDTV has from tonight converted its business news channel NDTV Profit into a dual channel – NDTV Profit will be a business news channel from 9:00 am till 5:00 pm on weekdays and will thereafter convert into a lifestyle and entertainment channel NDTV Prime. Over the weekends, the channel will be entirely NDTV Prime.

    The 2-in-1 channel will provide NDTV with two primetime segments, one during the market hours and the second in the evening.

    Mobile phone maker Micromax will be NDTV Prime’s channel partner for a three-year period, under a deal, according to sources, that’s valued at a shade above Rs 30 crore. Micromax will gain huge mileage as its emblem ‘M’ will be replacing the character ‘m’ in NDTV Prime.

    NDTV has a channel partner for NDTV Profit in the country’s largest exchange the National Stock Exchange (NSE). The channel will carry a line ‘Partnered by NSE’ under the NDTV Profit logo.

     

    A promotional campaign featuring Shah Rukh Khan has already begun through print and TV with the tagline ‘Work Hard Play Hard’ embodying the dual nature of NDTV Profit and NDTV Prime.

    NSE MD and CEO Chitra Ramakrishnan said the goals of NSE and NDTV Profit were similar in terms of investor outreach.

    Says Micromax co-founder Rahul Sharma, “NDTV Prime provides an ideal opportunity for Micromax to reach out to evolved viewers through new programming on lifestyle, reality, automobiles, sports, music, property, gadgets and gizmos and comedy. With digitisation and advancement of technology, we are seeing a trend for greater consumption of high quality
    content among the viewers.”

    In addition to the channel sponsor for NDTV Prime, the channel will also have sponsor or sponsors for every programme. This is expected to help NDTV Prime break-even within a year.

     

    As reported earlier by indiantelevision.com, NDTV Prime’s big-ticket show will be ‘Ticket to Bollywood’ sponsored by Videocon d2h along with VLCC and Fortis. Prime has been divided into various bands that are sponsored as well.

    Education band ‘Mindspace’ at 6:30 pm is sponsored by LIC, IMS, Vidyalankar and Rau’s IAS study circle, Property at 7:00pm is powered by Supertech and indiaproperty.com, Tech band at 8:00 pm is sponsored by Croma, Nokia and Toshiba, Auto band at 8:30 pm is with MRF, Mercedes-Benz, Hyundai, Volvo, VistaTech, Mobil1 and Polaris as main sponsors.

    The Comedy band at 10:00 pm and Strip movies at 10:30 pm are currently the only ones without sponsors. “How often do you see a channel which even before launch is pre-sold? People know this channel will work and I was sure we won’t launch it without having the money in the bank,” says NDTV group CEO Vikram Chandra.

    Each band will have a different show each day of the week. Along with TV, NDTV Prime will also have exclusive shows on its website www.ndtvprime.com. One of the first is two technology pieces of five to seven minutes that will be exclusively on its website every day.

    Does the genre have enough of such content to put out on a daily basis? Tech anchor Rajiv Makhni says, “In technology, something or the other is happening every day. If a mobile is launched say on a Monday why would you wait till Saturday to see a feature on it? So on Prime you will see news, analysis as well as suggestions. Not only will we zoom in on a few best in every category but we will also tell you exactly which product should you buy.”

    He also goes on to explain that just because Micromax and Nokia are sponsors, there will be no bias in favour of these brands. “If a product has flaws then it has flaws. You will see it on our shows,” says Makhni.

    Men will drive the viewership for NDTV Prime. “A lot of our evening content is aimed for people with interests besides stock market. In fact, now our morning viewership will be a subset of our evening one and the evening will see 10 times more viewership,” says NDTV co-chairperson Prannoy Roy.

     

    With the facelift that NDTV has given to NDTV Profit with a split channel in NDTV Prime, it is also looking at beefing up its distribution with a lot of pull effect coming from people who want to watch Prime, especially Ticket to Bollywood.

    “Entertainment and comedy usually has a pull distribution effect. So in this case we don’t have to pay carriage fee as well,” admitted Roy.

    Roy, who was speaking on the sidelines of the launch of NDTV Prime, also spoke about the future prospects of NDTV. “Our future has got more to do with the digital platform ndtv.com,” says Roy.

     

    Chandra had earlier said a large part of NDTV’s losses were due to NDTV Profit and now with Prime in place, the company is confident that its profits will get a boost.

  • Reliance group makes RBNL public shareholding buy back offer

    Reliance group makes RBNL public shareholding buy back offer

    NEW DELHI:The Reliance Anil Dhirubhai Ambani group is going ahead with its decision to de-list Reliance Broadcast Network Ltd (RBNL)  from the stockmarket. Three Reliance ADA group companies – The Reliance Share & Stock Brokers,  Reliance Land Pvt Ltd and Reliance Capital – today announced an offer to shareholders, under which 19,901,854 shares of RBNL representing 25.05 per cent of its equity capital, will be acquired by the group. With this acquisition, the group’s stake in RBNL will go up to 90 per cent, allowing it to go ahead with its plan to delist RBNL from the stock exchanges.

     

     
    The public announcement was issued  in accordance with Regulation 10 of the Securities and Exchange Board of India (Delisting of Equity Shams) Regulations, 2009 in respect of the proposed acquisition and delisting of fully paid-up equity shares of a company  (“Offer” / “Delisting Offer”). The company is listed on both the Bombay and National stock exchanges (BSE and NSE).
     

     

    The BSE and NSE have issued their in-principle approvals for the Delisting Offer.  In accordance with the applicable provisions of Regulation 15 (2) of the Delisting Regulations, the floor price for the Offer per Equity Share determined by the group  is Rs  46.47.

     
     
    The minimum price per Equity Share (the “Discovered Price” / “Offer Price”) payable by the Acquirer for the Offer Shares it acquires pursuant to the Delisting Offer, and determined in accordance with the Delisting Regulations, will be the price at which the maximum number of Offer Shares are tendered pursuant to a reverse book-building process in the manner an specified in Schedule II of the Delisting Regulations.
     
     
    The Acquirer may, at its sole discretion, accept the Discovered Price for the Offer Shares or offer to pay a price higher than the Discovered Price for the Offer Shares. The price so accepted or offered by the Acquirers is referred to in this Public Announcement as the exit price (the “Exit Price”). The Acquirers are under no obligation to accept the Discovered Price or to offer a price higher than the Discovered Price.
     
     
    The Specified Date has been fixed at 24 January. The Dispatch of Bid Letter/ Bid Forms to Public Shareholders as on the Specified Date will be 30 January and the bid opening date will be 12 February.
     
     
    The last date for upward revision or withdrawal of Bids (3.00 p.m.) is 17 February and the Bid Closing Date (3.00 p.m.) is 18 February.
     
     
    The last date for making Public Announcement of Discovered Price/ Exit Price and Acquirer’s acceptance/ rejection of Discovered Price/ Exit Price is 4 March and the last date for payment of consideration for the Offer Shares to be acquired in case of a successful Delisting Offer is 6 March.  The last date for return to Public shareholders of Offer Shares tendered but not acquired under the Delisting Offer is 6 March.
     
     
    A successful delisting offer will be subject to the acceptance of the Discovered Price (if it is higher than the Floor Price of Rs 46.47) or offer, of an Exit Price higher than the Discovered Price by the three acquiring entities.

     

    A resolution had been passed by RBNL shareholders through postal ballot, the result of which was declared on 30 October 2013 and notified to the Stock Exchanges on the same date, approving its delisting from the BSE and NSE in accordance with the Delisting Regulations. The votes cast by Public Shareholders in favour of the Delisting Offer were 7,058,183, being more than two times the number of votes cast by the Public Shareholders against it (i.e. 44,597).

  • Pressman Advertising reports 6 per cent q-o-q revenue growth for Q2-2014

    Pressman Advertising reports 6 per cent q-o-q revenue growth for Q2-2014

    BENGALURU: Pressman Advertising Limited (Pressman), probably the first advertising agency that was listed on the NSE and BSE last month reported a revenue growth of 5.9 per cent for Q2-2014 at Rs10.15 crore as compared to the Rs 9.58 crore for the immediate trailing quarter Q1-2014.

     

    PAT for Q2-2014 was about 1.1 per cent lower at Rs 1.9975 crore than the Rs 2.0198 crore for Q1-2014. The company reported revenue of Rs 46.96 crore and a PAT of Rs 6.29 crore for FY-2013 and paid a dividend of 40 per cent.

     

    In Q1-2014, the company had released Rs 1.461 crore that had been earlier written off and this amount helped in inflating the profit for that quarter. This year the company has added Rs 0.6 crore to exceptional items – write back of liability provided for earlier year no longer required.

     

    Expenditure for Q2-2014 at Rs 8.89 crore was 3.2 per cent lower than the Rs 9.18 crore for Q1-2014. Cost or services for Q2-2014 at Rs 7.49 crore was 4 per cent lower than the Rs 7.8 crore for Q1-2014.

     

    For the half year ended 30 September 2013, the company’s gross income (including  exceptional items) stood at Rs 22.089 crore and PAT at Rs 4.02 crore. As on 31 March 2013, the company had Reserves and Surplus (excluding revaluation reserves) of Rs13.75 crore on a paid up capital of Rs 4.6966 crore.

     

    Notes: (1) The name of the company has changed from Nucent Estates Limited to Pressman Advertising Limited with effect from 22 August 2013.

     

    (2) Current quarter/half-year’s figures are not comparable for those of last year on account of effect of amalgamation
    (3) Please read the attached financial results

  • India Infoline Finance Limited Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) subscribed 2.2 times

    India Infoline Finance Limited Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) subscribed 2.2 times

    India Infoline Finance Limited’s Public Issue of Secured Redeemable Non-Convertible Debentures received an overwhelming response with total subscription amounting to Rs. 11,540 mn as per the initial data on the stock exchanges. The IIFL Secured Bonds issue was subscribed 2.2 times (as of 5:30 pm on September 23) on the Issue Closing Day.

     

    Nirmal Jain, Chairman, India Infoline Group, said, “We are overwhelmed by such record response with bids for Rs. 1154 crore to our Rs. 525 crore NCD issue, particularly in the backdrop of such tight liquidity conditions and uncertain environment. The response from retail investors with bids of over Rs. 500 crore is a reaffirmation of trust in the brand IIFL.  Similar robust response from institutional investors is a vote of confidence in our risk management and governance.  We remain committed to live up to the trust and confidence of retail as well as institutional investors.”

     

    According to the stock exchanges data, all the categories under the Issue were oversubscribed. As per the stock exchanges data, Categories III (retail individual investors, NRIs and Hindu families) has been subscribed to approximately around 1.93 times. As per the stock exchanges data, Categories II has been subscribed to approximately around 1.98 times. As per the stock exchanges data, Categories I (Institutions) has been subscribed to approximately around 2.6 times.

     

    The NCDs will be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”) and will have a tradable lot size of 1 NCD.

     

    Disclaimer: India Infoline Finance Limited (“Issuer” or “the Company”) , has proposed to offer public issue of Secured Redeemable Non-Convertible Debentures through Prospectus filed with ROC, NSE, BSE and Securities and Exchange Board of India (for record purposes) read with Corrigendum issued in all editions of Financial Express, Navashakti and Jansatta on September 16, 2013. The Prospectus is available on the website of the stock exchanges at www.nseindia.com and www.bseindia.com; on the website of Securities and Exchange Board of India at www.sebi.gov.in; and the respective websites of the Lead Managers at www.axiscapital.co.in, www.iiflcap.com, www.trustgroup.co.in, www.idbicapital.com and Co-Lead Managers at www.rrfinance.com/rrfcl.com, www.karvy.com, www.smccapitals.com.  Investors proposing to participate in the Issue should invest only on the basis of information contained in the Prospectus and special attention is drawn to the risk factors contained therein.

     

    “It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the ‘Disclaimer Clause of the BSE Limited.”

     

    “It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document for the full text of the ‘Disclaimer Clause of NSE”.

  • NDTV Q3 net loss widens to Rs 1.2 billion

    NDTV Q3 net loss widens to Rs 1.2 billion

    MUMBAI: The grim tale of economic downturn continues with yet another media company posting poor third-quarter results. NDTV Ltd’s consolidated net loss has widened to Rs 1.21 billion, as against a loss of Rs 320.2 million in the quarter ended 31 December, 2007.

    The figures also capture the losses made on the entertainment and allied business of Rs 1.04 billion.

    NDTV’s revenue grew 12 per cent to Rs 1.31 billion, from Rs 1.08 billion a year ago.

    The company said that the change in the external environment and the economic downturn has resulted in a visible slowdown in advertising revenues not just for NDTV, but for the industry as a whole. It also mentioned that it has already initiated major rationalisation of costs on all fronts – distribution, personnel and administration, to improve efficiency and streamline operations.

    It claimed that the group has cash balance of over Rs 4 billion, net of all debt, to meet any future business expense requirements including new programming and developments.

    The company’s total expenditure stood at Rs 2.33 billion, nearly double from Rs 1.19 billion on a year-on-year basis. Operating expenses shot up mainly due to rise in marketing, distribution, promotional and production costs.

    On a standalone basis, NDTV posted a net loss of Rs 174.8 million for the third quarter ended 31 December 2008 while revenue was at Rs 825.9 million.

    NDTV has received confirmation of no objection from the stock exchanges (BSE, NSE) for the de-merger of news and entertainment businesses and it will be filing the scheme with the Delhi High Court, the company said in a statement.

  • CNBC introduces ‘Pehla Kadam’ for new investors

    MUMBAI: CNBC Awaaz in association with NSDL and NSE has launched Pehla Kadam, an education initiative for Indian investors keen to invest in the stock market.

    The investor education initiative has been divided into three aspects which include a learner’s kit for investors, a website on Pehla Kadam and a weekly show on CNBC Awaaz.

    The finance minister P. Chidambaram has unveiled the learner’s kit which will be handed over to every new investor who opens a demat account across the country. The kit contains a guide which answers every query related to investment basics along with insights and information.

    The Pehla Kadam website will help Indians to unlock all their queries on investment, while the show on CNBC Awaaz will feature experts from the industry. These experts will simplify investment and educate the first time investor with necessary information about the stock market. The initiative has been sponsored by Reliance Money.

    TV18 group CEO Haresh Chawla said, “With CNBC Awaaz’s initiatives for our investors, we now have 60 per cent of the market share in the Hindi business news genre. Through our ‘Pehla Kadam’ initiative, we intend to reach prospective investors across India, who are reluctant about investing in stock markets largely due to lack of knowledge and understanding of the market and fear of risk. As a consumer focused channel, we have taken this initiative to empowering our viewers with information which will help them make intelligent and informed decisions.”