Paramount Global s recent sale of its 13.01% stake in Viacom18 to Reliance Industries has allowed the company to exit its Indian joint venture with a profitable return on investment. Paramount fully divested from Viacom18 for ₹4,286 crore, while continuing content licensing agreements. The transaction is expected to close by the end of 2024 or early 2025, pending regulatory approval. The merger agreement between RIL, Walt Disney s Star India, and Viacom18 will impact the ownership structure, with RIL and Viacom18 set to hold a majority stake in the proposed merged entity.
On the weekly options front, the maximum Call OI is placed at 23000 and then towards 22850 strikes while the maximum Put OI is placed at 22500 and then towards 22400 strikes.
Since it is the beginning of the new series, options data is scattered at various far strikes. On the weekly options front, the maximum Call OI is placed at 22500 and then towards 23000 strikes.
Domestic benchmark equity indices experienced a decline on Friday, primarily due to weakness in the financial sector. However, these losses did not overshadow the weekly gains, which were fueled by a post-results rally in key index constituents and reduced concerns regarding the Middle East.