After the transaction, HDFC Mutual Fund's stake in TV Today now stands at 7.14 percent, increased from 5.04 percent earlier
Shares of English-Hindi news television network TV Today jumped 11 percent intraday on June 26 after HDFC Mutual Fund increased its stake in the company by 2 percent.
The stock was quoting at Rs 265.65, up Rs 7.55, or 2.93 percent amid high volumes on the BSE at 1240 hours IST.
HDFC Mutual Fund increased its holding in media firm by 2.14 percent stake through the open market transaction on June 24.
Schemes of HDFC Mutual fund, which earlier held 5 percent stake in TV Today Network, bought 12.78 lakh shares, amounting to 2.14 percent shareholding in the company, as per a regulatory filing by the MF house.
After the transaction, HDFC Mutual Fund's stake in TV Today now stands at 7.14 percent, increased from 5.04 percent earlier.
Based on a weighted average price of the stock at Rs 254.66 per share on June 24, the transaction is estimated to be valued at Rs 32.55 crore.
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