News Report

Is Adani Group Buying NDTV??? Organization Says “Baseless Rumours”

“In a sudden surge in the prices, The NDTV shares hit upper Circuit today. NDTV shares rallied on Monday to hit its 10 per cent upper circuit limit. This happened amid speculations in the market that NDTV may be acquired by a big corporate group. Early on Monday, some speculation started doing rounds that none other than the Adani group may acquire stakes in a Delhi based media house, which many believe is NDTV. On BSE, the stock traded at Rs 79.65, up 9.94 per cent as of 10.40 am. The market has been buzzing with Adani’s entry into the media sector after Adani Enterprises inducted veteran journalist Sanjay Pugalia as the CEO and editor-in-chief to lead the group’s media initiatives. Pugalia was earlier the president and editorial director at Quint Digital Media. Before that he headed CNBC-Awaaz, set up Star News in Hindi, headed Zee News and was part of the founding team of AajTak. As a print journalist, he has worked with Business Standard and Navbharat Times. He was also a regular contributor to BBC Hindi Radio during the 1990s. NDTV’s financial performance has been patchy. The company’s promoters have also been subject to tax investigations. However, the stock has risen 130 per cent in the last one year. If we talk about the Adani group, then it has spread its business in many areas. The major companies of this group are Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Enterprises, Adani Ports (APSEZ) and Adani Power. Group’s chairman Gautam features in the top-5 richest persons in Asia with a net worth of about $ 67.1 billion.

#AdaniGroup #GautamAdani #NDTV #SanjayPugaliya

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