Saregama launches Carvaan Mini Kids; stock rises more than 5 per cent

Saregama India Ltd on Thursday launched a new product namely, Carvaan Mini Kids, which is the ultimate solution for parents worrying about kids’ increasing screen time.

It combines the dual aspects of fun and learning, in an engaging way for kids without having to resort to looking at digital screens.

Reacting to this, the stock of Saregama jumped more than 5.63 per cent today and made an intraday high of Rs 583 on BSE.

Saregama India Ltd is a reputed audio entertainment company in India. The company's segments include music, films/TV serials, publications, and marketing support services. It is estimated that the company owns about 50 per cent of the music ever recorded in India.

The company reported an operating profit of Rs 24.24 crore in Q1FY21, up by 634.55 per cent from Rs 3.30 crore reported in Q1FY20.

The share price of the company closed at Rs 559.95 on Thursday, up by 1.45 per cent on BSE.