This stock is hitting back-to-back upper circuits post a major announcement; turned Rs 1 lakh into Rs 3 lakh within just 3 months!
The stock soared 637 per cent over the past one year and has provided outstanding gains of 86 per cent in just one month!
On an intraday basis on Monday, the shares of New Delhi Television Ltd (NDTV) rallied and got locked at a 5 per cent upper circuit at Rs 540.85 per share on BSE, touching an all-time high.
Following the media division of Adani Group's announcement that it would acquire a 29.18 per cent ownership stake in NDTV and launch an open offer to acquire an additional 26 per cent of the company's shares, the stock has been continuously climbing.
Investors' attention is being drawn to this stock by back-to-back upper circuits. An investment of Rs 1 lakh made in the company three months ago would now be worth Rs 3 lakh as its shares soared more than 200 per cent during this period! The stock soared 637 per cent over the past one year and has provided outstanding gains of 86 per cent in just one month!
According to NDTV, Adani Group needed to obtain some approvals for the deal. Contrarily, Adani Group claims that the approval of the income tax authorities is not necessary for their agreement to purchase the media company NDTV. The issue dates back to when Vishvapradhan Commercial Private Ltd (VCPL), a company owned by Adani, lent the founders of NDTV over Rs 403 crore in exchange for warrants that allowed the business to purchase a 29.18 per cent stake.
Keep a close eye on this scrip for the upcoming sessions!