NDTV Ltd shares rose for the second day in a row on Thursday, reaching the upper circuit limit of Rs 407.60 on the National Stock Exchange amid the Adani group’s offer to buy the media company.
The scrip rose 5% in opening trade on both the NSE and the BSE, reaching the respective upper circuit limits.
The company’s shares rose 5% to Rs 407.60 per share on the NSE, a 52-week high, after closing at Rs 388.20 on Wednesday.
Similarly, NDTV Ltd rose 5% to Rs 403.70 per share on the BSE. It is also the company’s 52-week high on the stock exchange.
NDTV’s market capitalization has increased by Rs 241.78 crore in two days to Rs 2,602.71 crore on the BSE. In the broader market, the S&P BSE Sensex rose 300 points, or 0.54%, to 59,404, while the NSE Nifty 50 rose 102 points, or 0.6%, to 17,707. The NDTV stock price had also reached the upper circuit in the previous session. So far this year, the share price of NDTV has increased by 250.28%. The 30-share Sensex rose 351 points to 59,436.78 points in the morning trade.
On Wednesday, NDTV Ltd shares reached the upper circuit limits or the maximum permissible trading limit for the day.
On Tuesday, the Adani group announced an open offer to acquire an additional 26% stake in NDTV Ltd, following an indirect acquisition of 29.18% shareholding in the company.
