TV Today Network shares surged 6% after the company revealed plans to shut down its FM radio operations under the frequency 104.8 FM in Mumbai, Delhi, and Kolkata. The decision, approved by the Board of Directors on January 9, 2025, aligns with changing industry dynamics and strategic priorities.
Key Highlights:
- Turnover Impact: FM radio contributed ₹16.18 crore (1.7% of total revenue) in FY2023-24.
- Financial Loss: The segment incurred a loss of ₹19.53 crore during the same period.
- Reason for Closure: The company aims to refocus resources, citing challenges in the FM radio broadcasting industry.
TV Today Network shares opened at ₹209.00, reaching a high of ₹226.99 and a low of ₹208.01 during the session. The stock remains well below its 52-week high of ₹308.00 but above its 52-week low of ₹183.29.
As of 10:57 AM, TV Today Network shares were trading 5.90% higher at Rs 220.54.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
