Back-to-back upper circuits: Shares of this multibagger soared over 480 per cent in just one year!

It surged 289 per cent year-to-date and delivered fantastic returns of 23 per cent in the last 5 sessions!

While Indian domestic indices were trading flat with mixed investor sentiments on the sectoral front, recent developments and back-to-back upper circuits drew investors to shares of New Delhi Television Ltd (NDTV).  

Founders and promoters of the television network New Delhi Television (NDTV), Prannoy Roy and his wife Radhika Roy, have resigned from their positions as directors on the board of RRPR Holding Private Limited.   

Following the media division of Adani Group's announcement in late August that it will acquire a 29.18 per cent ownership stake in NDTV and make an open offer to acquire an additional 26 per cent of the company's shares, the stock has been continuously climbing.   

Recently, Indian billionaire Gautam Adani described the takeover of NDTV as a ‘responsibility’ rather than just an ‘opportunity’, which made investors optimistic about the future outlook of the company.  

On an intraday basis on Wednesday, shares of New Delhi Television gained and locked at a 5 per cent upper circuit for the fourth time in a row, trading at Rs 447.70 per share on the BSE.  

The multibagger stock has experienced a significant upswing, soaring more than 480 per cent in just one year, implying that an initial investment of Rs 1 lakh in this stock is now worth more than Rs 5.8 lakh! It surged 289 per cent year-to-date and delivered fantastic returns of more than 23 per cent in the last 5 sessions!  

Keep a close eye on this scrip for the upcoming sessions.