HT Media has shown a spurt in volumes of almost 3 times since the opening bell, with the stock price going up almost 4.5% to Rs.40.30. Its 20% UC is at Rs.46.35.
Taking ahead its Board decision on 20th Dec’18, the company has decided to purchase 3,68,08,001 equity shares of NRL, constituting 48.6% stake, a subsidiary company of Next Mediaworks Limited ("NMW").
The company entered into a purchase agreement on March 1, 2019.
The aim of this buy is to derive synergy of FM operations of the company with Next Radio.