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Stock Report
Balaji Telefilms to invest upto Rs.60 crores in JV with Star TV
Posted On : 2007-04-20 00:49:26( TIMEZONE : IST )
Balaji Telefilms Ltd has announced that the Board of Directors of the Company at its meeting held on April 19, 2007, has taken the following decisions:
Regional languages joint venture with the Star Group
With a view to enhance and diversify its business, approval was accorded for the Company to invest upto Rs 60 Crores for acquiring a 49% stake in a joint venture with the Star Group to create a television network of regional language general entertainment channels, including the existing business owned by Star of broadcasting a Tamil language channel as "Vijay" and being transferred to the joint venture but excluding Hindi.
The stock was trading at Rs.169.60, up by Rs.8.15 or 5.05%. The stock hit an intraday high of Rs.173 and low of Rs.164.90. The total traded quantity was 396787 compared to 2 week average of 601272.
