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NDTV script hits higher circuit after Prannoy and Radhika Roy step down

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The shares of television broadcasting company New Delhi Television Ltd (NDTV) hit the upper circuit on the stock exchanges on Wednesday with the changing of the guard at the promoter’s holding company RRPR Holding Private Ltd.



At the BSEthe NDTV scrip opened at Rs 447.70 (upper limit) after closing at Rs 426.40 on Tuesday.

With the Adani group acquiring a 99.5 percent stake in RRPR Holding, Pranoy Roy and Radhika Roy resigned as directors, the NDTV said on Tuesday.

The company also said it was informed by promoter group vehicle RRPR Holding that the latter’s board approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as directors with immediate effect.

The RRPR Holding has a 29.18 percent interest in NDTV, which has three national television channels.

The Adani group has also made an open offer to acquire an additional 26 percent stake in NDTV at a price of Rs 294 per share.

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