NDTV shares gain 5 pc; hit upper circuit

Shares of NDTV Ltd continued to climb for the second consecutive day on Thursday and touched the upper circuit limit of Rs 407.60 on the National Stock Exchange amid the Adani group making an offer to take over the media firm.

On NSE as well as BSE, the scrip jumped 5 percent in opening trade and touched the respective upper circuit limits.

The company’s shares rose 5 percent to Rs 407.60 apiece on NSE, also its 52-week high, after closing at Rs 388.20 on Wednesday.

Similarly, NDTV Ltd gained 5 percent to Rs 403.70 per share on BSE. It is also the 52-week high for the company on the bourse.

In the morning trade, the 30-share benchmark Sensex surged more than 351 points to 59,436.78 points while the broader Nifty rose 101 points to 17,706 points. On Wednesday also, shares of NDTV Ltd had touched the upper circuit limits, the highest permissible trading limit for the day.

In a stunning move on Tuesday, the Adani group announced launching an open offer to acquire an additional 26 percent stake in NDTV Ltd after an indirect acquisition of 29.18 percent shareholding in the company.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)