NDTV STock Price: Lower circuit for the third consecutive day, shares broken 18% from record high, Adani Group’s open offer is coming
Lower Circuit in NDTV Stock: The shares of New Delhi Television (NDTV) have again started lower circuit today i.e. on 8th September. Today the company’s shares weakened 5 percent for the third consecutive day. Before this, the stock had an upper circuit for 9 consecutive days. At present, the stock has broken 18 percent from its record high in 3 days. Let us tell you that Adani Group plans to acquire NDTV. For this, there is news of bringing an open offer on October 17.
533 percent return in 1 year
The stock has given 307 per cent return this year. At the same time, the stock has given 533 percent return in the last one year. That is, the stock of NDTV proved to be a multibagger for the investors in that phase, when there is selling pressure in the market. Even after 3 days of continuous decline, the return of the stock has been close to 60 percent in 1 month. Let us tell you that the stock touched its high price of Rs 568 on September 6, after which the lower circuit has been imposed for the third consecutive day. Now the stock has come at a price of Rs 468.
Stock in focus since joining Adani Group
NDTV has been in high focus ever since Adani Enterprises, the flagship firm of the Gautam Adani Group, bought about 29.18 per cent stake in the company. The Adani Group will present its open offer on October 17 to acquire an additional 26 per cent stake in media firm NDTV, which is managed by domestic brokerage JM Financial.
Adani Group wants to acquire 1.67 crore equity shares of NDTV at Rs 294 per share. The issue will close on 1 November. If fully subscribed at the given price, the open offer amount will be Rs 492.81 crore