Anil Dhirubhai Ambani Group has accumulated stakes worth Rs 1,047.8 crore
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
The India Today group, which is under attack from Law minister Salman Khurshid, today said it stands by the veracity of the report carried by its TV network alleging financial irregularities in a trust run by the Khurshid couple and will defend itself."TVTN (TV Today Network) stands by the veracity of the broadcast of news pertaining to sting carried by the Channel exposing the swindling of funds by Dr Zakir Hussain Memorial Trust," said a statement from the group
Amid demands from some party leaders that he should step down in the wake of allegations of dubious fundings of his companies, Bharatiya Janata Party president Nitin Gadkari on Friday said he is an "honest man" and ruled out resigning from his post.
Talks in final stages, but both sides deny move.
The Birlas have earlier forayed only in the entertainment business and in 2003 launched a movie and television software production company called Applause Entertainment, best known for producing Hindi movie Black, starring Amitabh Bachchan.
The Anil Ambani Group has acquired additional one per cent stake in media house, TV Today Network to increase its holding to nearly 12 per cent in a transaction worth around Rs 7.8 crore (Rs 78 million).
The Anil Ambani Group has increased its stake in media house TV Today Network to nearly 12 per cent by acquiring an additional one per cent stake in a deal that could be estimated at about Rs 8 crore (Rs 80 million).
Striving to expand its investment in media companies, the Anil Ambani Group has increased its stake in TV Today Network to over 10 per cent by acquiring an additional 0.96 per cent stake for an estimated Rs 6.50 crore.
India's leading news channels Aaj Tak and Headlines Today have been launched in the US market.
TV Today Network on Wednesday said it has filed draft red herring prospectus with the Securities and Exchange Board of India for its over Rs 100 crore initial public offering, involving 14.5 million shares.
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Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A simple look at the prices of 10 media stocks during the tenure of the current government tells an interesting tale, says N Sundaresha Subramanian.
Tata Steel, SBI, Infosys and L&T were among the top gainers for the day.
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
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