Reliance MediaWorks has zoomed around 37% to Rs 292.95 after the company in its Annual General Meeting (AGM) announced that it will raise long term funds up to Rs 500 crore through Qualified Institutional Placement (QIP).
"The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report.
The stock opened at Rs 213 and hit high of Rs 252 on the BSE. The counter has seen hectic activity with trading volumes zoomed more than twenty-folds. As many as 1.56 million shares changing hands on the counter so far as against an average 78,000 shares traded daily in past two-weeks.
"The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report.
The stock opened at Rs 213 and hit high of Rs 252 on the BSE. The counter has seen hectic activity with trading volumes zoomed more than twenty-folds. As many as 1.56 million shares changing hands on the counter so far as against an average 78,000 shares traded daily in past two-weeks.
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