NDTV Share Price Locked at 10% Upper Circuit a Day After Adani Buyout Rumours

NDTV had refuted any change in the ownership on Monday.

News media company NDTV has refuted reports of change in ownership or of any divestment.

(Photo: The Quint)

A day after rumours of a buyout by Adani Group were refuted by news media company NDTV, share price touched a 52-week high of Rs 87.60 and locked at 10 percent upper circuit on Tuesday, 21 September, according to Moneycontrol.

NDTV on Monday had refuted reports of change in ownership or of any divestment.

In an announcement on their website, NDTV wrote:

“NDTV Limited is not in discussions now, nor has been, with any entity for a change in ownership or a divestment of any sort. Founder-promoters, Radhika and Prannoy Roy, who are both journalists, own 61.45 percent of the Company and remain in control of it.”

Further the company claimed to have no information on why there is a sudden surge in the stock price.

“Regarding ‘news reports’ on this, NDTV cannot control unsubstantiated rumours, nor does it participate in baseless speculation,” NDTV said.

The company also said that they are known for "exemplary corporate governance" and said they will continue to abide by all legal and regulatory requirements for disclosure.