The rise in Adani stocks follows a report which said the conglomerate is in talks with global private equity firms and Indian banks to raise up to $3 billion
NDTV share price: The stock surged 15.01 per cent to hit a day high of Rs 306.55 over its previous close of Rs 266.55. At today's high price of Rs 306.55, the scrip has gained 36.18 per cent in just two days. However, it has slipped over 14 per cent on a year-to-date (YTD) basis.
The board of Adani Group-backed NDTV on November 28 announced resuming activities of NDTV Profit channel from December 8. Earlier this year, the Adani Group acquired a majority stake in the media company
In a press release issued on June 1, 2017, the company had informed the exchanges about the temporary discontinuation of regular business programming on the NDTV Profit channel.
The decline was mainly attributed to a fall in advertising spending by businesses amid rising interest rates. Indian broadcasters are grappling with slowing advertising spending as businesses clamp down on discretionary investments to rein in costs amid high inflation and aggressive interest rate hikes.