Why Pritish Nandy Communications share rose 10% in opening trade
Pritish Nandy Communications share price hit upper circuit of 10 per cent for second day after the Chairman Emeritus of Tata Sons acquired a stake in the company through market purchases
BusinessToday.In | March 16, 2021 | Updated 10:34 IST
Pritish Nandy Communications share hit 10% upper circuit
Pritish Nandy Communications shares continued gaining streak for the second straight session on Tuesday on stake buying by Ratan Tata. The stock locked in upper circuit of 10 per cent for second day after the Chairman Emeritus of Tata Sons acquired a stake in the company through market purchases.
Extending previous session rally, Pritish Nandy Communications share price opened higher against previous closing price of Rs 23.50. The stock of the company gained as much as 10 per cent to hit intraday high of Rs 25.85. The market cap of the company surged by 3.4 crore to Rs 37.4 crore, from Rs 34 crore on Monday.
Pritish Nandy Communications shares hits 10% upper circuit on acquisition of stake by Ratan Tata
Following the announcement, Pritish Nandy Communications shares gained as much as 9.81 per cent to hit intraday high of Rs 23.50
BusinessToday.In | March 15, 2021 | Updated 15:11 IST
Pritish Nandy Communications share gains 10%
Shares of Pritish Nandy Communications rallied 9.81 per cent to hit upper circuit of Rs 23.50 on the BSE on Monday after Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, acquired a stake in the company through market purchases last week. The company, engaged in development of media and entertainment content, however, did not disclose the details of the transaction.
Ratan Tata acquires stake in Pritish Nandy Communications
Tata has invested in many startups and technology companies in the past, including Ola, Paytm, Snapdeal, CureFit, Urban Ladder, Lenskart, and Lybrate.
BusinessToday.In | March 15, 2021 | Updated 14:59 IST
Tata has invested in many startups and technology companies in the past.
Tata Group patriarch Ratan Tata has acquired a stake in Pritish Nandy Communications (PNC), one of the first corporate entities in Bollywood, in his personal capacity. Mr Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week, PNC said in an exchange filing.